IFM Investors Pty Ltd Decreases Position in Assurant, Inc. (NYSE:AIZ)

IFM Investors Pty Ltd reduced its position in Assurant, Inc. (NYSE:AIZ) by 2.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,894 shares of the financial services provider’s stock after selling 318 shares during the quarter. IFM Investors Pty Ltd’s holdings in Assurant were worth $2,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB boosted its position in Assurant by 8.0% during the fourth quarter. Nordea Investment Management AB now owns 181,885 shares of the financial services provider’s stock worth $30,586,000 after purchasing an additional 13,395 shares during the period. Naples Money Management LLC bought a new position in shares of Assurant in the fourth quarter worth approximately $1,988,000. Tectonic Advisors LLC raised its stake in Assurant by 4.0% in the fourth quarter. Tectonic Advisors LLC now owns 2,197 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 85 shares in the last quarter. Northern Trust Corp lifted its position in Assurant by 1.6% during the third quarter. Northern Trust Corp now owns 597,419 shares of the financial services provider’s stock valued at $85,777,000 after purchasing an additional 9,167 shares during the last quarter. Finally, Edmp Inc. grew its stake in Assurant by 1.9% in the 4th quarter. Edmp Inc. now owns 6,075 shares of the financial services provider’s stock worth $1,024,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

AIZ has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Piper Sandler lifted their price target on Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Keefe, Bruyette & Woods lowered Assurant from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $170.00 to $182.00 in a research report on Monday, February 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and an average price target of $192.20.

Assurant Trading Down 0.4 %

NYSE AIZ traded down $0.76 during trading on Friday, hitting $172.88. 289,173 shares of the company’s stock traded hands, compared to its average volume of 285,908. The stock has a fifty day moving average of $178.83 and a two-hundred day moving average of $168.97. Assurant, Inc. has a 12-month low of $116.46 and a 12-month high of $189.48. The firm has a market cap of $8.99 billion, a P/E ratio of 14.43, a PEG ratio of 2.20 and a beta of 0.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.41 and a quick ratio of 0.41.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share for the quarter, beating the consensus estimate of $3.70 by $0.88. Assurant had a return on equity of 18.36% and a net margin of 5.77%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.78 billion. As a group, sell-side analysts expect that Assurant, Inc. will post 15.67 EPS for the current year.

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.