Assurant, Inc. (NYSE:AIZ) Position Lessened by Mount Lucas Management LP

Mount Lucas Management LP lowered its position in Assurant, Inc. (NYSE:AIZ) by 59.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,927 shares of the financial services provider’s stock after selling 14,859 shares during the quarter. Mount Lucas Management LP’s holdings in Assurant were worth $1,974,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. SteelPeak Wealth LLC grew its stake in shares of Assurant by 770.1% in the 2nd quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock valued at $2,170,000 after buying an additional 11,551 shares in the last quarter. UniSuper Management Pty Ltd raised its holdings in shares of Assurant by 608.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,640 shares of the financial services provider’s stock valued at $1,062,000 after purchasing an additional 4,844 shares in the last quarter. QRG Capital Management Inc. lifted its stake in shares of Assurant by 44.9% in the 2nd quarter. QRG Capital Management Inc. now owns 12,614 shares of the financial services provider’s stock valued at $2,097,000 after purchasing an additional 3,909 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Assurant by 3,412.0% in the first 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 in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Assurant by 443.7% in the first quarter. Cetera Investment Advisers now owns 12,973 shares of the financial services provider’s stock worth $2,442,000 after purchasing an additional 10,587 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at $4,321,240.44. This trade represents a 12.68 % 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 hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction on Monday, August 19th. The stock was 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 in the company, valued at $593,962.88. This represents a 14.86 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Assurant Stock Up 1.6 %

Shares of AIZ stock opened at $218.82 on Friday. The stock has a 50 day moving average of $197.03 and a 200-day moving average of $182.72. The firm has a market cap 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. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a 12 month low of $159.32 and a 12 month high of $219.05.

Assurant (NYSE:AIZ) last issued its quarterly earnings results 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 firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the firm earned $4.29 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, equities analysts predict that Assurant, Inc. will post 15.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AIZ. Bank of America boosted their price target on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group upped their target price on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. 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 research report on Thursday, November 7th. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.20.

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.