Shell Asset Management Co. Raises Holdings in Assurant, Inc. (NYSE:AIZ)

Shell Asset Management Co. raised its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 61.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,380 shares of the financial services provider's stock after acquiring an additional 3,957 shares during the quarter. Shell Asset Management Co.'s holdings in Assurant were worth $2,213,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in AIZ. PNC Financial Services Group Inc. grew its holdings in shares of Assurant by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider's stock worth $1,657,000 after acquiring an additional 100 shares during the period. Blue Trust Inc. lifted its stake in Assurant by 28.6% in the 4th quarter. Blue Trust Inc. now owns 845 shares of the financial services provider's stock valued at $168,000 after buying an additional 188 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in Assurant during the 4th quarter valued at $329,000. Merit Financial Group LLC acquired a new stake in Assurant during the 4th quarter valued at $254,000. Finally, Hennessy Advisors Inc. increased its position in Assurant by 6.9% during the fourth quarter. Hennessy Advisors Inc. now owns 54,000 shares of the financial services provider's stock worth $11,514,000 after buying an additional 3,500 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now directly owns 17,708 shares of the company's stock, valued at $3,568,162. The trade was a 14.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.51% of the company's stock.

Assurant Price Performance

Shares of NYSE AIZ opened at $201.97 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a market capitalization of $10.27 billion, a price-to-earnings ratio of 13.96 and a beta of 0.59. The business has a 50-day moving average of $198.26 and a 200-day moving average of $206.95.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.61. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.06 billion. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The firm's revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.78 EPS. On average, equities analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AIZ shares. StockNews.com upgraded shares of Assurant from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Truist Financial upped their target price on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods dropped their price target on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Piper Sandler raised Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 target price on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.17.

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.

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