Aigen Investment Management LP Invests $261,000 in Assurant, Inc. (NYSE:AIZ)

Aigen Investment Management LP purchased a new position in shares of Assurant, Inc. (NYSE:AIZ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,313 shares of the financial services provider’s stock, valued at approximately $261,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Assurant during the second quarter worth about $31,000. 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 valued at $33,000 after purchasing an additional 77 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Assurant during the 3rd quarter valued at approximately $56,000. Family Firm Inc. acquired a new stake in shares of Assurant during the second quarter worth approximately $51,000. Finally, Covestor Ltd increased its stake in shares of Assurant by 35.7% in the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock worth $65,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the stock in a transaction on 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 owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. This represents a 14.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AIZ has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Truist Financial boosted their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler increased their target price on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Bank of America raised their price objective on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Assurant has a consensus rating of “Moderate Buy” and an average price target of $225.20.

Assurant Price Performance

Shares of AIZ opened at $218.82 on Friday. Assurant, Inc. has a 12 month low of $159.32 and a 12 month high of $219.05. 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 stock has a fifty day moving average price of $196.51 and a 200 day moving average price of $182.41. The company has a market cap of $11.22 billion, a P/E ratio of 15.61, a PEG ratio of 2.12 and a beta of 0.57.

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