Federated Hermes Inc. Reduces Stock Position in Assurant, Inc. (NYSE:AIZ)

Federated Hermes Inc. cut its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 331,628 shares of the financial services provider's stock after selling 45,347 shares during the period. Federated Hermes Inc. owned 0.63% of Assurant worth $55,876,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new stake in shares of Assurant in the fourth quarter valued at approximately $25,000. Parkside Financial Bank & Trust increased its stake in Assurant by 353.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider's stock worth $31,000 after acquiring an additional 138 shares during the period. Harvest Fund Management Co. Ltd increased its stake in Assurant by 104.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider's stock worth $26,000 after acquiring an additional 91 shares during the period. McGlone Suttner Wealth Management Inc. bought a new position in Assurant during the 4th quarter worth $40,000. Finally, First Capital Advisors Group LLC. bought a new position in Assurant during the 2nd quarter worth $32,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIZ has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Assurant from $195.00 to $205.00 and gave the stock an "overweight" rating in a research note on Friday, April 5th. UBS Group lifted their price target on Assurant from $191.00 to $205.00 and gave the company a "buy" rating in a research note on Monday, February 12th. Finally, Keefe, Bruyette & Woods lowered Assurant from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $170.00 to $182.00 in a research note on Monday, February 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $192.20.

Assurant Price Performance

Shares of NYSE AIZ traded up $2.94 during mid-day trading on Friday, hitting $173.83. 259,540 shares of the stock traded hands, compared to its average volume of 298,047. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. Assurant, Inc. has a twelve month low of $115.43 and a twelve month high of $189.48. The company has a market cap of $9.04 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 2.16 and a beta of 0.50. The firm has a 50 day simple moving average of $178.56 and a two-hundred day simple moving average of $168.10.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.88. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.78 billion. Assurant had a return on equity of 18.36% and a net margin of 5.77%. As a group, equities research analysts forecast that Assurant, Inc. will post 15.67 EPS for the current fiscal year.

About Assurant

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.