abrdn plc Has $5.25 Million Stock Holdings in Assurant, Inc. (NYSE:AIZ)

abrdn plc reduced its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,629 shares of the financial services provider's stock after selling 4,353 shares during the period. abrdn plc's holdings in Assurant were worth $5,250,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in shares of Assurant by 10.6% in the second quarter. Cetera Investment Advisers now owns 14,342 shares of the financial services provider's stock worth $2,384,000 after buying an additional 1,369 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Assurant during the second quarter worth approximately $475,000. Czech National Bank boosted its holdings in shares of Assurant by 6.5% during the third quarter. Czech National Bank now owns 10,550 shares of the financial services provider's stock worth $2,098,000 after purchasing an additional 644 shares during the period. Atomi Financial Group Inc. acquired a new stake in shares of Assurant during the third quarter worth approximately $242,000. Finally, CWM LLC boosted its holdings in shares of Assurant by 85.6% during the third quarter. CWM LLC now owns 4,227 shares of the financial services provider's stock worth $841,000 after purchasing an additional 1,950 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Stock Performance

AIZ stock traded up $0.76 on Thursday, reaching $208.11. 433,878 shares of the company were exchanged, compared to its average volume of 375,413. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The stock's fifty day moving average price is $212.49 and its 200 day moving average price is $202.47. The firm has a market capitalization of $10.67 billion, a PE ratio of 14.84 and a beta of 0.62.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.31% and a return on equity of 17.42%. On average, research analysts anticipate that Assurant, Inc. will post 15.82 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.54%. Assurant's dividend payout ratio is currently 22.82%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AIZ. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $194.00 to $212.00 and gave the company a "market perform" rating in a research report on Tuesday, November 12th. Morgan Stanley began coverage on shares of Assurant in a research report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 price objective on the stock. Truist Financial raised their price objective on shares of Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday. Finally, StockNews.com lowered shares of Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday. Four 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, Assurant currently has an average rating of "Hold" and an average target price of $231.17.

About Assurant

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.