PFA Pension Forsikringsaktieselskab Takes $36.20 Million Position in Assurant, Inc. $AIZ

Key Points

• PFA Pension purchased a new stake of 149,485 Assurant shares valued at about $36.2 million, representing roughly 0.30% of the company at quarter-end.
• Insiders have been selling recently — EVP Subhashish Sengupta sold 1,880 shares and CAO Dimitry Dirienzo sold 750, with a total of 2,650 insider shares sold in the past 90 days; insiders now own about 0.54% of the stock.
• Wall Street consensus is a "Moderate Buy" (8 Buys, 2 Holds) with an average price target of $256.83, and Assurant recently beat estimates with $5.61 EPS and $3.35 billion revenue for the quarter.

PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 149,485 shares of the financial services provider's stock, valued at approximately $36,195,000. PFA Pension Forsikringsaktieselskab owned about 0.30% of Assurant at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AIZ. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant during the second quarter valued at approximately $27,000. Versant Capital Management Inc raised its holdings in Assurant by 72.6% during the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider's stock worth $27,000 after purchasing an additional 53 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Assurant by 65.6% during the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider's stock worth $32,000 after purchasing an additional 59 shares in the last quarter. BOKF NA bought a new stake in Assurant during the third quarter worth approximately $32,000. Finally, Root Financial Partners LLC bought a new stake in Assurant during the third quarter worth approximately $34,000. Institutional investors own 92.65% of the company's stock.

Insider Activity at Assurant

In other Assurant news, EVP Subhashish Sengupta sold 1,880 shares of Assurant stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $210.53, for a total value of $395,796.40. Following the transaction, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. The trade was a 39.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 750 shares of Assurant stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the completion of the transaction, the chief accounting officer owned 4,741 shares in the company, valued at approximately $1,000,256.18. This trade represents a 13.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,650 shares of company stock worth $558,331. 0.54% of the stock is currently owned by company insiders.

Assurant Trading Up 0.1%

Assurant stock opened at $231.69 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of 13.65 and a beta of 0.56. Assurant, Inc. has a 1 year low of $183.39 and a 1 year high of $246.31. The firm's 50 day moving average price is $222.74 and its two-hundred day moving average price is $226.30.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.06. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.28 billion. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.79 earnings per share. On average, research analysts predict that Assurant, Inc. will post 20.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AIZ shares. Truist Financial boosted their target price on Assurant from $265.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, February 12th. Morgan Stanley dropped their target price on Assurant from $248.00 to $240.00 and set an "equal weight" rating on the stock in a report on Monday, April 6th. Wall Street Zen cut Assurant from a "buy" rating to a "hold" rating in a report on Saturday, February 14th. Weiss Ratings raised Assurant from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, April 27th. Finally, BMO Capital Markets dropped their target price on Assurant from $255.00 to $246.00 and set an "outperform" rating on the stock in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $256.83.

About Assurant

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.

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