Assurant, Inc. (NYSE:AIZ) Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd trimmed its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 2.2% during the first quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AIZ. WFA Asset Management Corp purchased a new stake in Assurant during the 1st quarter worth $424,000. Allspring Global Investments Holdings LLC lifted its position in shares of Assurant by 121.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,203 shares of the financial services provider’s stock worth $1,544,000 after purchasing an additional 4,507 shares in the last quarter. AMF Tjanstepension AB acquired a new position in Assurant in the 1st quarter worth $39,013,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Assurant during the first quarter valued at about $343,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Assurant by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider’s stock worth $1,200,000 after acquiring an additional 73 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Assurant Stock Performance

AIZ stock traded down $0.76 during mid-day trading on Friday, reaching $172.88. The company had a trading volume of 289,173 shares, compared to its average volume of 285,908. The stock’s 50-day simple moving average is $178.83 and its two-hundred day simple moving average is $168.97. The stock has a market capitalization of $8.99 billion, a P/E ratio of 14.43, a P/E/G ratio of 2.20 and a beta of 0.50. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. Assurant, Inc. has a one year low of $116.46 and a one year high of $189.48.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.78 billion. Research analysts anticipate 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.