Wedge Capital Management L L P NC Sells 17,193 Shares of Assurant, Inc. (NYSE:AIZ)

Wedge Capital Management L L P NC cut its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 36.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,105 shares of the financial services provider's stock after selling 17,193 shares during the quarter. Wedge Capital Management L L P NC owned about 0.06% of Assurant worth $5,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Assurant by 6.8% during the 4th quarter. CWM LLC now owns 976 shares of the financial services provider's stock valued at $164,000 after buying an additional 62 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Assurant by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,999 shares of the financial services provider's stock valued at $842,000 after buying an additional 206 shares during the period. abrdn plc raised its holdings in shares of Assurant by 119.8% during the 4th quarter. abrdn plc now owns 11,002 shares of the financial services provider's stock valued at $1,854,000 after buying an additional 5,997 shares during the period. Naples Money Management LLC purchased a new stake in shares of Assurant during the 4th quarter valued at about $1,988,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Assurant by 14.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,061 shares of the financial services provider's stock valued at $853,000 after buying an additional 627 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Stock Performance

NYSE:AIZ traded up $0.74 during midday trading on Wednesday, reaching $177.05. 295,311 shares of the company traded hands, compared to its average volume of 353,045. Assurant, Inc. has a twelve month low of $115.77 and a twelve month high of $189.48. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 2.21 and a beta of 0.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41. The company has a fifty day moving average price of $178.72 and a 200 day moving average price of $168.69.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.70 by $0.88. Assurant had a return on equity of 18.36% and a net margin of 5.77%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.78 billion. On average, analysts expect that Assurant, Inc. will post 15.67 EPS for the current fiscal year.

Analyst Ratings Changes

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

Assurant Company 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.