Blackhawk Capital Partners LLC Invests $522,000 in Assurant, Inc. $AIZ

Blackhawk Capital Partners LLC acquired a new stake in Assurant, Inc. (NYSE:AIZ) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,168 shares of the financial services provider’s stock, valued at approximately $522,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ascent Group LLC raised its stake in Assurant by 0.8% in the 4th quarter. Ascent Group LLC now owns 5,339 shares of the financial services provider’s stock valued at $1,286,000 after purchasing an additional 43 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Assurant by 0.3% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,917 shares of the financial services provider’s stock valued at $3,448,000 after purchasing an additional 48 shares during the last quarter. Versant Capital Management Inc raised its stake in Assurant by 72.6% in the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 53 shares during the last quarter. Cresset Asset Management LLC raised its stake in Assurant by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 1,075 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 55 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in Assurant by 2.6% in the 4th quarter. Fifth Third Bancorp now owns 2,217 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 57 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley reduced their price objective on Assurant from $248.00 to $240.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. UBS Group increased their price objective on Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a research note on Monday. Weiss Ratings raised Assurant from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, April 27th. Truist Financial increased their price objective on Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, BMO Capital Markets reduced their price objective on Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.00.

Assurant Stock Up 1.9%

Shares of NYSE:AIZ opened at $244.14 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average of $224.17 and a two-hundred day moving average of $227.28. The stock has a market cap of $12.14 billion, a P/E ratio of 12.49 and a beta of 0.56. Assurant, Inc. has a 52-week low of $183.39 and a 52-week high of $246.31.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.66. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $5.79 EPS. On average, research analysts expect that Assurant, Inc. will post 20.93 earnings per share for the current year.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Subhashish Sengupta sold 1,880 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.53, for a total value of $395,796.40. Following the completion of the sale, the executive vice president directly owned 2,895 shares in the company, valued at $609,484.35. This represents a 39.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 750 shares of the company’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $210.98, for a total value of $158,235.00. Following the completion of the sale, the chief accounting officer owned 4,741 shares of the company’s stock, valued at approximately $1,000,256.18. The trade was a 13.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,650 shares of company stock valued at $558,331. 0.54% of the stock is owned by company insiders.

Assurant Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.