Mizuho Securities USA LLC Increases Holdings in Assurant, Inc. (NYSE:AIZ)

Mizuho Securities USA LLC increased its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 11,480.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,952 shares of the financial services provider’s stock after purchasing an additional 460,937 shares during the quarter. Mizuho Securities USA LLC owned approximately 0.90% of Assurant worth $92,460,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Assurant during the 2nd quarter valued at approximately $31,000. Richardson Financial Services Inc. grew its stake in Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 77 shares in the last quarter. Huntington National Bank increased its holdings in Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. Family Firm Inc. purchased a new stake in Assurant in the 2nd quarter worth $51,000. Finally, Capital Performance Advisors LLP purchased a new stake in Assurant in the 3rd quarter worth $56,000. Institutional investors own 92.65% of the company’s stock.

Insider Activity

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. This trade represents a 14.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were 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 of the company’s stock, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AIZ shares. Piper Sandler lifted 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. Bank of America upped their price objective on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group raised their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods lifted their target price on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday. Finally, Truist Financial increased their price target on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.20.

Assurant Trading Up 1.6 %

Shares of NYSE:AIZ opened at $218.82 on Friday. 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 market capitalization of $11.22 billion, a P/E ratio of 15.61, a P/E/G ratio of 2.12 and a beta of 0.57. The business’s 50-day moving average is $197.03 and its 200 day moving average is $182.72. Assurant, Inc. has a 1 year low of $159.32 and a 1 year high of $219.05.

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

Assurant Company 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.