Bp Plc bought a new position in shares of Assurant, Inc. (NYSE:AIZ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 6,000 shares of the financial services provider’s stock, valued at approximately $648,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE lifted its holdings in shares of Assurant by 81.4% during the second quarter. US Bancorp DE now owns 1,114 shares of the financial services provider’s stock worth $115,000 after buying an additional 500 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Assurant by 111.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,142 shares of the financial services provider’s stock worth $118,000 after buying an additional 601 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Assurant by 69.6% during the second quarter. Envestnet Asset Management Inc. now owns 1,526 shares of the financial services provider’s stock worth $157,000 after buying an additional 626 shares in the last quarter. Cerebellum GP LLC acquired a new stake in shares of Assurant during the third quarter worth $200,000. Finally, CIBC World Markets Inc. acquired a new stake in shares of Assurant during the second quarter worth $201,000. 94.15% of the stock is owned by institutional investors.
Shares of NYSE AIZ opened at $103.30 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 52 week low of $84.34 and a 52 week high of $111.43. The firm has a market capitalization of $6.13 billion, a P/E ratio of 14.00 and a beta of 0.56.
Assurant declared that its Board of Directors has approved a share buyback program on Monday, November 5th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 9.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In related news, COO Gene Mergelmeyer sold 14,144 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $109.41, for a total value of $1,547,495.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Tpg Advisors Vi-Aiv, Inc. sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $105.14, for a total value of $105,140,000.00. The disclosure for this sale can be found here. Insiders sold 2,215,394 shares of company stock worth $228,135,608 in the last 90 days. 0.93% of the stock is owned by company insiders.
A number of equities research analysts have recently weighed in on AIZ shares. UBS Group lifted their target price on Assurant from $118.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Keefe, Bruyette & Woods initiated coverage on Assurant in a research report on Monday, July 16th. They issued an “outperform” rating and a $121.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $128.75.
Assurant Company Profile
Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.
Featured Article: Trading Strategy Methods and Types
Want to see what other hedge funds are holding AIZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Assurant, Inc. (NYSE:AIZ).
Receive News & Ratings for Assurant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assurant and related companies with MarketBeat.com's FREE daily email newsletter.