Principal Financial Group Inc. Purchases 4,317 Shares of Assurant, Inc. (NYSE:AIZ)

Principal Financial Group Inc. grew its position in Assurant, Inc. (NYSE:AIZ) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,260 shares of the financial services provider’s stock after buying an additional 4,317 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Assurant worth $14,370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Assurant by 7.2% during the third quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 56 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in Assurant by 4.2% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 59 shares in the last quarter. Richardson Financial Services Inc. boosted its position in Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 77 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Assurant by 1.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock valued at $1,376,000 after acquiring an additional 78 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Assurant by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,615 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 79 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Insiders Place Their Bets

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

Assurant Stock Up 1.6 %

AIZ stock opened at $218.82 on Friday. The stock has a market capitalization of $11.22 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 2.12 and a beta of 0.57. Assurant, Inc. has a 52 week low of $159.32 and a 52 week high of $219.05. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The firm has a 50 day moving average of $197.03 and a 200 day moving average of $182.72.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Bank of America raised their price objective on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Piper Sandler raised their price target on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. UBS Group boosted 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. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Truist Financial upped their price target on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.20.

Assurant Company 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.