US Bancorp DE Grows Stock Position in Assurant, Inc. (NYSE:AIZ)

US Bancorp DE grew its holdings in Assurant, Inc. (NYSE:AIZ) by 7.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 829 shares of the financial services provider’s stock after acquiring an additional 56 shares during the quarter. US Bancorp DE’s holdings in Assurant were worth $165,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Janney Montgomery Scott LLC grew its position in Assurant by 5.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,816 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 189 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Assurant by 67.3% during the first quarter. Oppenheimer & Co. Inc. now owns 2,900 shares of the financial services provider’s stock valued at $546,000 after buying an additional 1,167 shares during the last quarter. Sei Investments Co. increased its position in shares of Assurant by 62.6% in the 1st quarter. Sei Investments Co. now owns 24,284 shares of the financial services provider’s stock valued at $4,571,000 after acquiring an additional 9,346 shares during the period. Russell Investments Group Ltd. raised its stake in Assurant by 27.5% in the 1st quarter. Russell Investments Group Ltd. now owns 67,040 shares of the financial services provider’s stock worth $12,609,000 after acquiring an additional 14,467 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Assurant by 12.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60,372 shares of the financial services provider’s stock worth $11,364,000 after acquiring an additional 6,621 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Performance

AIZ opened at $215.48 on Friday. The firm has a fifty day moving average price of $196.09 and a 200 day moving average price of $182.18. Assurant, Inc. has a 1 year low of $159.32 and a 1 year high of $215.87. The stock has a market cap of $11.05 billion, a P/E ratio of 15.17, a P/E/G ratio of 2.11 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company earned $4.29 earnings per share. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Assurant, Inc. will post 15.05 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. This trade represents a 14.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the sale, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at $4,321,240.44. This represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research note on Tuesday. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. UBS Group increased their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Piper Sandler raised their target price on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Truist Financial upped their price target on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Assurant currently has an average rating of “Moderate Buy” and a consensus target price of $225.20.

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.