Wells Fargo & Company MN Reduces Stake in Assurant, Inc. (NYSE:AIZ)

Wells Fargo & Company MN trimmed its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,267 shares of the financial services provider's stock after selling 14,691 shares during the quarter. Wells Fargo & Company MN's holdings in Assurant were worth $4,535,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant in the fourth quarter valued at about $28,000. Smartleaf Asset Management LLC increased its holdings in Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 75 shares during the period. Jones Financial Companies Lllp raised its position in Assurant by 219.1% during the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 103 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in Assurant by 503.1% in the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock worth $41,000 after buying an additional 161 shares during the period. Finally, Richardson Financial Services Inc. grew its position in shares of Assurant by 42.8% in the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider's stock worth $61,000 after buying an additional 86 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

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 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 in the company, valued at $3,568,162. The trade was a 14.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

Assurant Stock Down 1.8 %

AIZ traded down $3.56 during midday trading on Friday, reaching $189.63. The company's stock had a trading volume of 46,621 shares, compared to its average volume of 382,945. The stock's 50-day moving average is $200.89 and its 200-day moving average is $206.65. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 13.10 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 posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating analysts' consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. As a group, research analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Analysts Set New Price Targets

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