Assurant, Inc. (NYSE:AIZ) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP decreased its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 27.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,401 shares of the financial services provider's stock after selling 13,393 shares during the period. Assurant makes up about 1.6% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 11th largest position. Advantage Alpha Capital Partners LP owned 0.07% of Assurant worth $7,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its position in Assurant by 6.0% in the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider's stock valued at $231,392,000 after acquiring an additional 65,874 shares during the last quarter. Bank of Montreal Can increased its stake in Assurant by 9.3% in the 3rd quarter. Bank of Montreal Can now owns 47,011 shares of the financial services provider's stock worth $9,400,000 after buying an additional 4,016 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in Assurant by 75.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 749 shares of the financial services provider's stock valued at $149,000 after buying an additional 321 shares in the last quarter. Davis R M Inc. purchased a new stake in Assurant in the 3rd quarter valued at about $219,000. Finally, Cerity Partners LLC grew its stake in Assurant by 57.6% in the 3rd quarter. Cerity Partners LLC now owns 8,105 shares of the financial services provider's stock worth $1,612,000 after acquiring an additional 2,963 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Insider Activity

In related news, 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 completion of the sale, the executive vice president now owns 20,658 shares of the company's stock, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.53% of the company's stock.

Assurant Stock Performance

Shares of AIZ stock traded up $1.18 during mid-day trading on Tuesday, reaching $228.62. The stock had a trading volume of 330,738 shares, compared to its average volume of 354,302. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The firm has a market cap of $11.73 billion, a price-to-earnings ratio of 16.22 and a beta of 0.57. The business's fifty day moving average is $200.82 and its 200-day moving average is $184.77.

Assurant (NYSE:AIZ - Get Free Report) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company earned $4.29 earnings per share. Assurant's revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts forecast that Assurant, Inc. will post 15.41 earnings per share for the current year.

Assurant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.40%. This is an increase from Assurant's previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 9th. Assurant's dividend payout ratio (DPR) is presently 22.82%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AIZ shares. Piper Sandler upped their target price on Assurant from $200.00 to $217.00 and gave the stock a "neutral" rating in a 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 increased their target price on shares of Assurant from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Bank of America boosted their target price on Assurant from $228.00 to $233.00 and gave the stock a "buy" rating in a research note on Thursday, October 10th. Finally, UBS Group raised their price target on Assurant from $217.00 to $224.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Assurant presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.20.

Assurant Company 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.