Jane Street Group LLC increased its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 91.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 57,055 shares of the financial services provider's stock after buying an additional 27,302 shares during the period. Jane Street Group LLC owned 0.11% of Assurant worth $12,165,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in shares of Assurant by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider's stock valued at $1,657,000 after buying an additional 100 shares during the last quarter. Blue Trust Inc. raised its holdings in Assurant by 28.6% in the 4th quarter. Blue Trust Inc. now owns 845 shares of the financial services provider's stock valued at $168,000 after acquiring an additional 188 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Assurant by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider's stock worth $34,079,000 after acquiring an additional 24,887 shares during the period. Atria Wealth Solutions Inc. acquired a new stake in shares of Assurant during the 4th quarter worth approximately $329,000. Finally, Merit Financial Group LLC bought a new stake in shares of Assurant during the fourth quarter valued at approximately $254,000. Institutional investors own 92.65% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on AIZ. Truist Financial raised their target price on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods lowered their price objective on Assurant from $230.00 to $224.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler upgraded Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 target price for the company in a research report on Thursday, April 10th. Finally, StockNews.com upgraded Assurant from a "hold" rating to a "buy" rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.17.
Check Out Our Latest Report on Assurant
Assurant Price Performance
Assurant stock traded up $0.47 on Friday, reaching $195.34. The company's stock had a trading volume of 329,317 shares, compared to its average volume of 386,652. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The business's fifty day moving average price is $198.62 and its 200 day moving average price is $206.80. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 13.50 and a beta of 0.59.
Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, beating the consensus estimate of $2.78 by $0.61. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The business had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same period in the prior year, the firm earned $4.78 earnings per share. Assurant's revenue was up 6.7% compared to the same quarter last year. Equities analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.
Insider Activity
In related news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares of the company's stock, valued at $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.51% of the company's stock.
Assurant Company Profile
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Free Report)
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.
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