abrdn plc Buys 5,997 Shares of Assurant, Inc. (NYSE:AIZ)

abrdn plc boosted its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 119.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,002 shares of the financial services provider's stock after buying an additional 5,997 shares during the quarter. abrdn plc's holdings in Assurant were worth $1,854,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AIZ. Bank of New York Mellon Corp increased its position in shares of Assurant by 21.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,238,477 shares of the financial services provider's stock worth $464,981,000 after purchasing an additional 573,309 shares during the last quarter. FMR LLC increased its position in shares of Assurant by 7.5% in the 3rd quarter. FMR LLC now owns 2,748,162 shares of the financial services provider's stock worth $394,581,000 after purchasing an additional 191,750 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Assurant by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,865,496 shares of the financial services provider's stock worth $267,848,000 after purchasing an additional 109,123 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Assurant by 15.6% in the 3rd quarter. Wellington Management Group LLP now owns 638,334 shares of the financial services provider's stock worth $91,652,000 after purchasing an additional 85,953 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Assurant by 1.6% in the 3rd quarter. Northern Trust Corp now owns 597,419 shares of the financial services provider's stock worth $85,777,000 after purchasing an additional 9,167 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Stock Performance

Shares of NYSE:AIZ traded up $2.33 during trading on Monday, reaching $175.21. 375,732 shares of the company's stock traded hands, compared to its average volume of 352,082. Assurant, Inc. has a 12 month low of $118.45 and a 12 month high of $189.48. 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 stock has a market capitalization of $9.11 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 2.19 and a beta of 0.50. The company has a 50 day moving average of $178.83 and a 200-day moving average of $169.29.

Assurant (NYSE:AIZ - Get Free Report) last posted its earnings results on Tuesday, February 6th. The financial services provider reported $4.58 EPS for the quarter, topping the consensus estimate of $3.70 by $0.88. Assurant had a net margin of 5.77% and a return on equity of 18.36%. The firm had revenue of $3 billion during the quarter, compared to analysts' expectations of $2.78 billion. On average, equities analysts expect that Assurant, Inc. will post 15.67 EPS for the current year.

Wall Street Analyst Weigh In

AIZ has been the subject of several research analyst reports. Piper Sandler boosted their target price on shares of Assurant from $195.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, April 5th. Keefe, Bruyette & Woods downgraded shares of Assurant from an "outperform" rating to a "market perform" rating and boosted their price objective for the company from $170.00 to $182.00 in a research report on Monday, February 12th. Finally, UBS Group boosted their price objective on shares of Assurant from $191.00 to $205.00 and gave the company a "buy" rating in a research report on Monday, February 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Assurant has an average rating of "Moderate Buy" and a consensus price target of $192.20.

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.