Is Assurant, Inc. (NYSE:AIZ) a good investment?
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Equally as useful, optimistic insider trading sentiment is another way to analyze the marketplace. As the old adage goes: there are many reasons for an executive to cut shares of his or her company, but just one, very obvious reason why they would behave bullishly. Many empirical studies have demonstrated the impressive potential of this tactic if “monkeys” know where to look (learn more here).
Now that that’s out of the way, we’re going to examine the recent info for Assurant, Inc. (NYSE:AIZ).
Hedge fund activity in Assurant, Inc. (NYSE:AIZ)
At Q2’s end, a total of 15 of the hedge funds we track were bullish in this stock, a change of -6% from one quarter earlier. With hedge funds’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were boosting their holdings meaningfully.
As Assurant, Inc. (NYSE:AIZ) has faced a fall in interest from the top-tier hedge fund industry, it’s easy to see that there were a few funds that decided to sell off their positions entirely last quarter. Interestingly, Peter Adam Hochfelder’s Brahman Capital cut the biggest investment of all the hedgies we key on, worth about $58.4 million in stock, and Paul Tudor Jones of Tudor Investment Corp was right behind this move, as the fund dumped about $0.5 million worth. These moves are important to note, as total hedge fund interest dropped by 1 funds last quarter.
How have insiders been trading Assurant, Inc. (NYSE:AIZ)?
Legal insider trading, particularly when it’s bullish, is best served when the company in focus has experienced transactions within the past half-year. Over the latest 180-day time period, Assurant, Inc. (NYSE:AIZ) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Assurant, Inc. (NYSE:AIZ). These stocks are PICO Holdings Inc (NASDAQ:PICO), AFLAC Incorporated (NYSE:AFL), Unum Group (NYSE:UNM), StanCorp Financial Group, Inc. (NYSE:SFG), and CNO Financial Group Inc (NYSE:CNO). This group of stocks are the members of the accident & health insurance industry and their market caps are similar to AIZ’s market cap.
