Vanguard Personalized Indexing Management LLC, a well-known institutional investor, has recently increased its holdings in Assurant, Inc. (NYSE:AIZ) by 8.8% during the first quarter of this year. As per its most recent Form 13F filing with the Securities and Exchange Commission (SEC), Vanguard Personalized Indexing Management LLC now owns 9,352 shares of Assurant’s stock after buying an additional 759 shares in the same quarter. The total value of Vanguard’s holdings in Assurant is estimated to be $1,123,000 based on its most recent SEC filing.
Assurant reported its quarterly earnings data on Tuesday, August 1st. The financial services provider exceeded analysts’ expectations by posting earnings per share (EPS) of $3.89 for the quarter, surpassing the consensus estimate of $2.60 by $1.29. Furthermore, the company reported revenue of $2.75 billion for the same period compared to the consensus estimate of $2.64 billion. Assurant also demonstrated strong performance with a return on equity of 13.66% and a net margin of 3.27%. Equities research analysts anticipate that Assurant will achieve earnings per share of 12.58 for the current fiscal year.
Several brokerages have recently issued reports on AIZ rating Assurant’s stock. TheStreet upgraded Assurant from a “c+” rating to a “b” rating in a research report made on Wednesday, May 10th . Piper Sandler also upgraded their rating on Assurant from neutral to overweight and set a price objective of $144 per share on the stock in a research report released on Tuesday, June 13th . Truist Financial raised their price objective from $170 to $180 and reiterated their buy rating in another research report published on Thursday, August 3rd . Bank of America also increased their price objective from $160 to $164 in a research report on Wednesday, May 3rd. In addition, StockNews.com recently issued a research report on Assurant and gave it a buy rating.
Based on data from Bloomberg.com, the stock has received a consensus rating of “Buy” from five analysts. The average target price for Assurant’s shares is estimated to be around $141.
Please note that this article has been created by an AI called OpenAI and the information contained within this article should not be considered as financial advice or any form of recommendation to buy or sell any assets mentioned.
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Assurant’s Institutional Investors Show Interest as Insider Activities Surface
Assurant, a prominent financial services provider, has been experiencing some significant changes in institutional investors’ holdings recently. Qsemble Capital Management LP, for instance, purchased a new stake in Assurant during the first quarter, amounting to $1.057 million. On a similar note, Kentucky Retirement Systems Insurance Trust Fund also acquired Assurant shares valued at $226,000 during the same period.
In addition to these acquisitions, Pictet Asset Management SA increased its position in Assurant by 39.0% throughout the first quarter. The company now owns 36,536 shares of Assurant’s stock worth $4.387 million after purchasing an additional 10,248 shares. Similarly, Tredje AP fonden raised its position in Assurant by 4.2% during the first quarter and now owns 11,203 shares valued at $1.345 million after acquiring an additional 447 shares. Mitsubishi UFJ Trust & Banking Corp also boosted their stake in Assurant by 1.9%, currently owning 83,373 shares worth $10.011 million.
These moves highlight the interest shown by various hedge funds and institutional investors towards Assurant’s stock options as approximately 92.86% of the company’s stock is currently owned by such entities.
Beyond changes in holdings and investments, there have been some notable insider activities at Assurant as well. CAO Dimitry Dirienzo sold a total of 800 shares of the company’s stock on May 26th at an average price of $124.00 per share resulting in a transaction value of $99,2000 . Following this sale completion, Dirienzo holds approximately 5,516 shares worth roughly $683,984.
Moreover but less relevantly EVP Robert Lonergan sold off 3,000 shares of Assurant stock on August 4th at an average price of $144.43, yielding a total value of $433,290. Lonergan now owns 17,981 shares valued at approximately $2,596,995.83.
It’s important to note that these transactions were properly disclosed through legal filings with the SEC, which can be accessed on the SEC website or through the provided hyperlinks.
The aforementioned insider activity is part of a larger trend as insiders at Assurant sold a total of 15,500 shares worth $2,158,593 within the last 90 days. These sales account for approximately 0.51% of the company’s stock and indicate some changes in ownership within Assurant.
When assessing Assurant’s performance in the stock market, it opened at $139.14 on Thursday. The company currently boasts a market capitalization amounting to $7.38 billion along with a P/E ratio of 21.64 and a PEG ratio standing at an impressive 0.82. Additionally, Assurant has exhibited a beta coefficient measuring 0.55.
Analyzing its financial position further reveals that Assurant possesses a current ratio and quick ratio both standing at 0.41 each while also maintaining a debt-to-equity ratio of 0.47 – all indicators of its healthy financial standing.
Assurant has also been tracked over several moving averages including its fifty-day moving average price which remains steady at $132.52 alongside its two-hundred-day moving average displaying a slightly higher figure of $1267,.64.
