Assurant, Inc. (NYSE:AIZ) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its holdings in Assurant, Inc. (NYSE:AIZ) by 61.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,403 shares of the financial services provider’s stock after selling 16,860 shares during the quarter. Raymond James & Associates’ holdings in Assurant were worth $1,753,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Assurant by 1.0% in the first quarter. BlackRock Inc. now owns 5,721,116 shares of the financial services provider’s stock valued at $686,934,000 after acquiring an additional 58,354 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Assurant by 4.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,694,084 shares of the financial services provider’s stock valued at $712,103,000 after acquiring an additional 237,239 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Assurant by 21.5% in the third quarter. Bank of New York Mellon Corp now owns 3,238,477 shares of the financial services provider’s stock valued at $464,981,000 after acquiring an additional 573,309 shares during the period. FMR LLC boosted its holdings in shares of Assurant by 7.5% in the third quarter. FMR LLC now owns 2,748,162 shares of the financial services provider’s stock valued at $394,581,000 after acquiring an additional 191,750 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Assurant by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,865,496 shares of the financial services provider’s stock valued at $267,848,000 after acquiring an additional 109,123 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIZ has been the subject of several research analyst reports. Piper Sandler increased their price objective on Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, April 5th. UBS Group increased their price target on Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Keefe, Bruyette & Woods downgraded Assurant from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $170.00 to $182.00 in a report on Monday, February 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.20.

Assurant Price Performance

Shares of NYSE AIZ opened at $170.08 on Thursday. The firm has a market capitalization of $8.84 billion, a P/E ratio of 14.20, a PEG ratio of 2.19 and a beta of 0.50. Assurant, Inc. has a one year low of $115.41 and a one year high of $189.48. The company’s fifty day moving average is $178.65 and its two-hundred day moving average is $167.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41.

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