Mount Lucas Management LP Has $1.97 Million Holdings in Assurant, Inc. (NYSE:AIZ)

Mount Lucas Management LP cut its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 59.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,927 shares of the financial services provider’s stock after selling 14,859 shares during the period. Mount Lucas Management LP’s holdings in Assurant were worth $1,974,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Natixis Advisors LLC increased its stake in shares of Assurant by 10.6% in the third quarter. Natixis Advisors LLC now owns 15,253 shares of the financial services provider’s stock valued at $3,033,000 after buying an additional 1,456 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in Assurant by 11,480.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock worth $92,460,000 after acquiring an additional 460,937 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Assurant by 6.5% during the 3rd quarter. CIBC Asset Management Inc now owns 7,615 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 466 shares during the last quarter. Metis Global Partners LLC increased its position in Assurant by 6.2% in the 3rd quarter. Metis Global Partners LLC now owns 3,595 shares of the financial services provider’s stock valued at $715,000 after acquiring an additional 211 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Analyst Upgrades and Downgrades

AIZ has been the topic of several research analyst reports. UBS Group increased their price target on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Piper Sandler increased their price objective on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. 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 note on Tuesday, November 12th. Truist Financial upped their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.20.

Assurant Trading Up 1.6 %

Shares of NYSE:AIZ opened at $218.82 on Friday. Assurant, Inc. has a 52-week low of $159.32 and a 52-week high of $219.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The company has a market capitalization of $11.22 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 2.12 and a beta of 0.57. The company has a 50-day simple moving average of $197.03 and a 200 day simple moving average of $182.72.

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

Insiders Place Their Bets

In related news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares in the company, valued at approximately $593,962.88. The trade was a 14.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Biju Nair sold 3,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. This represents a 12.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

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.