Los Angeles Capital Management LLC Trims Position in Assurant, Inc. (NYSE:AIZ)

Los Angeles Capital Management LLC reduced its position in shares of Assurant, Inc. (NYSE:AIZ) by 82.7% in the third quarter, HoldingsChannel reports. The firm owned 11,031 shares of the financial services provider’s stock after selling 52,841 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Assurant were worth $2,194,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. QRG Capital Management Inc. grew its position in Assurant by 210.7% during the first quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock valued at $1,639,000 after buying an additional 5,903 shares during the period. SteelPeak Wealth LLC grew its position in shares of Assurant by 770.1% during the 2nd quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock valued at $2,170,000 after acquiring an additional 11,551 shares during the period. UniSuper Management Pty Ltd increased its stake in shares of Assurant by 608.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,640 shares of the financial services provider’s stock worth $1,062,000 after purchasing an additional 4,844 shares in the last quarter. Bessemer Group Inc. raised its holdings in Assurant by 3,412.0% in the 1st quarter. Bessemer Group Inc. now owns 14,645 shares of the financial services provider’s stock worth $2,757,000 after purchasing an additional 14,228 shares during the period. Finally, Cetera Investment Advisers lifted its position in Assurant by 443.7% during the first quarter. Cetera Investment Advisers now owns 12,973 shares of the financial services provider’s stock valued at $2,442,000 after purchasing an additional 10,587 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analysts Set New Price Targets

AIZ has been the subject of a number of analyst reports. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Bank of America increased their target price on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Truist Financial lifted 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. 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. Finally, Piper Sandler lifted their target price on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

Insider Buying and Selling at Assurant

In related news, 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 value of $627,540.00. Following the sale, the executive vice president now directly owns 20,658 shares in the company, valued at approximately $4,321,240.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 completion of the sale, the executive vice president now owns 20,658 shares in the company, valued at approximately $4,321,240.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Assurant Trading Up 0.4 %

Shares of AIZ opened at $213.24 on Thursday. The firm has a market cap of $10.94 billion, a P/E ratio of 15.21, a price-to-earnings-growth 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, Inc. has a 1 year low of $159.32 and a 1 year high of $214.82. The company has a 50 day simple moving average of $195.77 and a two-hundred day simple moving average of $181.96.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.48. The company 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%. Assurant’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the company posted $4.29 earnings per share. On average, equities analysts expect that Assurant, Inc. will post 15.05 earnings per share for the current fiscal year.

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.