Naples Money Management LLC Acquires New Holdings in Assurant, Inc. (NYSE:AIZ)

Naples Money Management LLC purchased a new stake in Assurant, Inc. (NYSE:AIZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,800 shares of the financial services provider’s stock, valued at approximately $1,988,000. Assurant accounts for 1.9% of Naples Money Management LLC’s holdings, making the stock its 25th largest position.

A number of other large investors have also made changes to their positions in AIZ. BlackRock Inc. increased its holdings in shares of Assurant by 1.0% in the first quarter. BlackRock Inc. now owns 5,721,116 shares of the financial services provider’s stock worth $686,934,000 after acquiring an additional 58,354 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Assurant by 4.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,694,084 shares of the financial services provider’s stock worth $712,103,000 after purchasing an additional 237,239 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Assurant by 21.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,238,477 shares of the financial services provider’s stock worth $464,981,000 after buying an additional 573,309 shares during the period. FMR LLC lifted its stake in Assurant by 7.5% in the third quarter. FMR LLC now owns 2,748,162 shares of the financial services provider’s stock valued at $394,581,000 after buying an additional 191,750 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Assurant by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,865,496 shares of the financial services provider’s stock valued at $267,848,000 after buying an additional 109,123 shares during the period. Institutional investors own 92.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AIZ shares. Keefe, Bruyette & Woods lowered shares of Assurant from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $170.00 to $182.00 in a report on Monday, February 12th. UBS Group increased their target price on Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Piper Sandler boosted their price target on Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, April 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.20.

Assurant Stock Up 1.7 %

Shares of AIZ stock traded up $2.94 during trading on Friday, reaching $173.83. The company’s stock had a trading volume of 259,349 shares, compared to its average volume of 355,337. Assurant, Inc. has a one year low of $115.43 and a one year high of $189.48. The business has a fifty day moving average price of $178.57 and a 200-day moving average price of $167.73. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 2.15 and a beta of 0.50. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.88. Assurant had a net margin of 5.77% and a return on equity of 18.36%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.78 billion. Analysts anticipate that Assurant, Inc. will post 15.67 earnings per share for the current 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.