Gateway Investment Advisers LLC Acquires New Position in Assurant, Inc. (AIZ)
Gateway Investment Advisers LLC acquired a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,113 shares of the financial services provider’s stock, valued at approximately $201,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in AIZ. Bremer Trust National Association purchased a new position in shares of Assurant during the fourth quarter valued at approximately $42,000. Captrust Financial Advisors lifted its stake in shares of Assurant by 163.6% during the fourth quarter. Captrust Financial Advisors now owns 543 shares of the financial services provider’s stock valued at $49,000 after buying an additional 337 shares during the period. CSat Investment Advisory L.P. lifted its stake in shares of Assurant by 59.6% during the fourth quarter. CSat Investment Advisory L.P. now owns 581 shares of the financial services provider’s stock valued at $52,000 after buying an additional 217 shares during the period. Dubuque Bank & Trust Co. purchased a new position in shares of Assurant during the fourth quarter valued at approximately $57,000. Finally, Doyle Wealth Management purchased a new position in shares of Assurant during the fourth quarter valued at approximately $59,000. 94.50% of the stock is currently owned by institutional investors and hedge funds.
NYSE:AIZ opened at $93.23 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 16.07 and a beta of 0.63. Assurant, Inc. has a fifty-two week low of $82.31 and a fifty-two week high of $111.43.
Separately, UBS Group reduced their price objective on shares of Assurant to $124.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $125.75.
In other Assurant news, insider Tpg Advisors Vi-Aiv, Inc. sold 7,869,230 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.15, for a total transaction of $772,364,924.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.68% of the company’s stock.
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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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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