Renaissance Technologies LLC Acquires New Position in Assurant, Inc. (NYSE:AIZ)

Renaissance Technologies LLC purchased a new position in Assurant, Inc. (NYSE:AIZ - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 41,100 shares of the financial services provider's stock, valued at approximately $8,763,000. Renaissance Technologies LLC owned about 0.08% of Assurant at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AIZ. Cascade Investment Advisors Inc. boosted its stake in Assurant by 0.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider's stock valued at $1,593,000 after buying an additional 50 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 75 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Assurant by 1.1% during the 4th quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider's stock valued at $1,642,000 after purchasing an additional 84 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Assurant by 30.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 364 shares of the financial services provider's stock worth $78,000 after buying an additional 84 shares during the period. Finally, Richardson Financial Services Inc. increased its stake in Assurant by 42.8% in the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider's stock worth $61,000 after purchasing an additional 86 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Stock Performance

AIZ traded up $4.63 during midday trading on Wednesday, hitting $193.57. 46,456 shares of the company were exchanged, compared to its average volume of 457,796. The company's 50 day simple moving average is $201.31 and its 200 day simple moving average is $206.71. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 13.38 and a beta of 0.53. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. 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 released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on AIZ shares. Keefe, Bruyette & Woods decreased their price target on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target on the stock in a report on Thursday, April 10th. Truist Financial upped their target price on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $234.17.

Insider Activity at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by corporate insiders.

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.