Harvest Fund Management Co. Ltd Increases Stake in Assurant, Inc. (NYSE:AIZ)

Harvest Fund Management Co. Ltd grew its position in Assurant, Inc. (NYSE:AIZ) by 119.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 390 shares of the financial services provider’s stock after acquiring an additional 212 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Assurant were worth $66,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AIZ. Bank of New York Mellon Corp raised its stake 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 increased its stake in Assurant by 7.5% in the 3rd quarter. FMR LLC now owns 2,748,162 shares of the financial services provider’s stock worth $394,581,000 after buying an additional 191,750 shares during the period. Federated Hermes Inc. increased its stake in Assurant by 75.1% in the 3rd quarter. Federated Hermes Inc. now owns 376,975 shares of the financial services provider’s stock worth $54,126,000 after buying an additional 161,671 shares during the period. Assenagon Asset Management S.A. increased its stake in Assurant by 279.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 179,663 shares of the financial services provider’s stock worth $30,271,000 after buying an additional 132,275 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Assurant by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,865,496 shares of the financial services provider’s stock worth $267,848,000 after buying an additional 109,123 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

AIZ has been the topic of several recent analyst reports. Piper Sandler raised their price target on shares of Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. UBS Group raised their target price on shares of Assurant from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods downgraded shares of Assurant from an “outperform” rating to a “market perform” rating and raised their target price for the company from $170.00 to $182.00 in a research report on Monday, February 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Assurant currently has a consensus rating of “Moderate Buy” and an average price target of $192.20.

Assurant Stock Down 1.9 %

NYSE:AIZ opened at $173.62 on Friday. Assurant, Inc. has a fifty-two week low of $115.77 and a fifty-two week high of $189.48. The stock has a market capitalization of $9.02 billion, a P/E ratio of 14.49, a P/E/G ratio of 2.24 and a beta of 0.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.41 and a current ratio of 0.41. The company’s 50-day simple moving average is $178.84 and its 200-day simple moving average is $168.78.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share for the quarter, beating analysts’ consensus estimates of $3.70 by $0.88. Assurant had a net margin of 5.77% and a return on equity of 18.36%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.78 billion. On average, equities analysts anticipate that Assurant, Inc. will post 15.67 earnings per share for the current fiscal year.

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.