Los Angeles Capital Management LLC Raises Holdings in Assurant, Inc. (NYSE:AIZ)

Los Angeles Capital Management LLC grew its holdings in Assurant, Inc. (NYSE:AIZ) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,002 shares of the financial services provider’s stock after buying an additional 2,525 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Assurant were worth $40,775,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AIZ. Nordea Investment Management AB raised its position in Assurant by 8.0% in the fourth quarter. Nordea Investment Management AB now owns 181,885 shares of the financial services provider’s stock worth $30,586,000 after acquiring an additional 13,395 shares in the last quarter. Naples Money Management LLC acquired a new stake in shares of Assurant during the 4th quarter valued at approximately $1,988,000. Tectonic Advisors LLC boosted its stake in shares of Assurant by 4.0% during the 4th quarter. Tectonic Advisors LLC now owns 2,197 shares of the financial services provider’s stock worth $370,000 after acquiring an additional 85 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Assurant by 1.6% in the 3rd quarter. Northern Trust Corp now owns 597,419 shares of the financial services provider’s stock worth $85,777,000 after acquiring an additional 9,167 shares during the period. Finally, abrdn plc raised its holdings in Assurant by 119.8% during the fourth quarter. abrdn plc now owns 11,002 shares of the financial services provider’s stock worth $1,854,000 after purchasing an additional 5,997 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Trading Up 0.8 %

Shares of Assurant stock traded up $1.46 during mid-day trading on Friday, hitting $176.08. 300,737 shares of the stock were exchanged, compared to its average volume of 349,707. The company has a 50-day simple moving average of $178.76 and a 200 day simple moving average of $169.92. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 2.21 and a beta of 0.53. Assurant, Inc. has a twelve month low of $118.45 and a twelve month high of $189.48.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.70 by $0.88. Assurant had a net margin of 5.77% and a return on equity of 18.36%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.78 billion. Research analysts forecast that Assurant, Inc. will post 15.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIZ. Keefe, Bruyette & Woods lowered shares of Assurant from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $170.00 to $182.00 in a research report on Monday, February 12th. UBS Group raised their price objective on shares of Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, Piper Sandler upped their target price on Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and an average target price of $192.20.

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.