Hsbc Holdings PLC Sells 6,934 Shares of Assurant, Inc. (NYSE:AIZ)

Hsbc Holdings PLC reduced its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,431 shares of the financial services provider's stock after selling 6,934 shares during the period. Hsbc Holdings PLC owned approximately 0.21% of Assurant worth $22,928,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AIZ. Cascade Investment Advisors Inc. raised its stake in Assurant by 0.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider's stock worth $1,593,000 after acquiring an additional 50 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after buying an additional 75 shares during the last quarter. CIBC Asset Management Inc lifted its position in Assurant by 1.1% during the 4th quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider's stock worth $1,642,000 after buying an additional 84 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Assurant by 30.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 364 shares of the financial services provider's stock worth $78,000 after acquiring an additional 84 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its position in Assurant by 42.8% in the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 86 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the sale, the executive vice president now owns 17,708 shares of the company's stock, valued at $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.51% of the company's stock.

Assurant Trading Up 2.0 %

NYSE AIZ traded up $3.79 on Friday, reaching $195.42. The company had a trading volume of 77,076 shares, compared to its average volume of 383,419. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The stock's 50 day moving average is $200.02 and its 200-day moving average is $206.69. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of 13.52 and a beta of 0.53.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating analysts' consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Equities analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AIZ. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target on the stock in a research note on Thursday, April 10th. Truist Financial increased their price objective on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. StockNews.com downgraded Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.17.

Assurant Profile

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.