Price T Rowe Associates Inc. MD Sells 75,873 Shares of Assurant, Inc. (NYSE:AIZ)

Price T Rowe Associates Inc. MD lessened its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 8.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 817,264 shares of the financial services provider's stock after selling 75,873 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.59% of Assurant worth $174,258,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Assurant by 48.4% in the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider's stock valued at $38,243,000 after purchasing an additional 62,696 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Assurant during the 3rd quarter worth $1,214,000. Wilmington Savings Fund Society FSB acquired a new stake in Assurant during the 3rd quarter worth $244,000. Principal Financial Group Inc. raised its position in shares of Assurant by 6.4% during the 3rd quarter. Principal Financial Group Inc. now owns 72,260 shares of the financial services provider's stock valued at $14,370,000 after acquiring an additional 4,317 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Assurant by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider's stock worth $34,079,000 after purchasing an additional 24,887 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the transaction, the executive vice president now directly owns 17,708 shares of the company's stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on AIZ. Keefe, Bruyette & Woods dropped their price objective on Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Truist Financial upped their price target on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Finally, Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 target price for the company in a research note on Thursday, April 10th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $234.17.

Assurant Stock Up 2.2 %

Shares of AIZ stock traded up $4.21 on Friday, hitting $195.84. 88,927 shares of the stock were exchanged, compared to its average volume of 383,475. The business has a 50-day moving average of $200.02 and a 200 day moving average of $206.69. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The firm has a market capitalization of $9.96 billion, a P/E ratio of 13.54 and a beta of 0.53. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Equities analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

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.