Millennium Management LLC Buys 322,608 Shares of Assurant, Inc. (NYSE:AIZ)

Millennium Management LLC raised its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 1,499.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 344,128 shares of the financial services provider's stock after purchasing an additional 322,608 shares during the quarter. Millennium Management LLC owned approximately 0.67% of Assurant worth $73,375,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Assurant by 36.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock valued at $708,016,000 after buying an additional 891,292 shares in the last quarter. Norges Bank purchased a new stake in shares of Assurant during the fourth quarter worth $143,475,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Assurant in the fourth quarter worth $34,365,000. Northern Trust Corp grew its position in shares of Assurant by 23.1% in the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock valued at $177,370,000 after purchasing an additional 156,364 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Assurant by 25.9% during the 4th quarter. Deutsche Bank AG now owns 550,782 shares of the financial services provider's stock worth $117,438,000 after purchasing an additional 113,247 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Assurant Trading Down 2.4%

Assurant stock traded down $4.83 during trading hours on Wednesday, reaching $195.82. The stock had a trading volume of 115,726 shares, compared to its average volume of 392,264. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market cap of $9.96 billion, a PE ratio of 13.52 and a beta of 0.59. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The company has a fifty day simple moving average of $198.23 and a 200-day simple moving average of $207.17.

Assurant (NYSE:AIZ - Get Free Report) last posted its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.61. The firm had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3.06 billion. Assurant had a return on equity of 17.25% and a net margin of 6.40%. The business's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.78 earnings per share. Analysts forecast that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Assurant

In other news, EVP Jay Rosenblum sold 1,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the transaction, the executive vice president now owns 11,775 shares of the company's stock, valued at approximately $2,377,725.75. This represents a 7.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.51% of the stock is owned by corporate insiders.

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.