Assurant, Inc. (NYSE:AIZ) Shares Purchased by KBC Group NV

KBC Group NV grew its stake in shares of Assurant, Inc. (NYSE:AIZ) by 16.9% in the third quarter, HoldingsChannel reports. The fund owned 5,348 shares of the financial services provider’s stock after buying an additional 773 shares during the quarter. KBC Group NV’s holdings in Assurant were worth $1,064,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AIZ. US Bancorp DE increased its position in Assurant by 7.2% during the third quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 56 shares during the last quarter. Catalyst Financial Partners LLC raised its position in shares of Assurant by 4.2% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock worth $244,000 after buying an additional 59 shares during the period. Richardson Financial Services Inc. raised its position in shares of Assurant by 62.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after buying an additional 77 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Assurant by 1.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock valued at $1,376,000 after acquiring an additional 78 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Assurant by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,615 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 79 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Stock Performance

NYSE:AIZ opened at $221.60 on Tuesday. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $221.94. The stock has a market cap of $11.37 billion, a P/E ratio of 15.81, a PEG ratio of 2.18 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a 50-day moving average of $197.03 and a two-hundred day moving average of $182.83.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. Assurant’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.29 EPS. On average, research analysts expect that Assurant, Inc. will post 15.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares in the company, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

AIZ has been the topic of several research analyst reports. Truist Financial lifted their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Bank of America increased their price objective on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Piper Sandler boosted their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, UBS Group increased their target price on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and an average price target of $225.20.

Assurant 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.