Assurant, Inc. (NYSE:AIZ) Shares Sold by Man Group plc

Man Group plc cut its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,000 shares of the financial services provider's stock after selling 10,471 shares during the period. Man Group plc owned about 0.26% of Assurant worth $28,358,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new stake in shares of Assurant during the fourth quarter worth $361,000. NorthRock Partners LLC raised its holdings in shares of Assurant by 20.0% during the fourth quarter. NorthRock Partners LLC now owns 4,153 shares of the financial services provider's stock worth $886,000 after acquiring an additional 692 shares during the period. OMERS ADMINISTRATION Corp raised its holdings in shares of Assurant by 13.0% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,288 shares of the financial services provider's stock worth $488,000 after acquiring an additional 264 shares during the period. NDVR Inc. acquired a new stake in shares of Assurant during the fourth quarter worth $236,000. Finally, Millennium Management LLC grew its position in Assurant by 1,499.1% in the fourth quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider's stock valued at $73,375,000 after purchasing an additional 322,608 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Trading Up 0.5%

NYSE:AIZ traded up $0.93 during trading hours on Monday, reaching $203.26. The company's stock had a trading volume of 429,561 shares, compared to its average volume of 392,484. The firm has a 50-day simple moving average of $198.26 and a 200-day simple moving average of $207.14. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 14.05 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, topping 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 analyst estimates of $3.06 billion. During the same quarter in the previous year, the firm posted $4.78 earnings per share. Assurant's quarterly revenue was up 6.7% on a year-over-year basis. Research analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of Assurant from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 target price on the stock in a report on Thursday, April 10th. Morgan Stanley upped their price objective on shares of Assurant from $200.00 to $217.00 and gave the company an "equal weight" rating in a research note on Monday. Truist Financial upped their price objective on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods lifted their price target on Assurant from $224.00 to $225.00 and gave the stock an "outperform" rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $228.67.

Insiders Place Their Bets

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $201.93, for a total transaction of $201,930.00. Following the transaction, the executive vice president now owns 11,775 shares of the company's stock, valued at approximately $2,377,725.75. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction dated 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 owns 17,708 shares in the company, valued at $3,568,162. This represents a 14.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.51% of the company's stock.

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.