Allstate Corp Purchases New Stake in Assurant, Inc. (NYSE:AIZ)

Allstate Corp acquired a new stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,587 shares of the financial services provider's stock, valued at approximately $338,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Assurant in the fourth quarter valued at $28,000. Smartleaf Asset Management LLC increased its stake in Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock worth $28,000 after acquiring an additional 75 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Assurant by 219.1% in the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock worth $32,000 after purchasing an additional 103 shares during the period. TD Private Client Wealth LLC lifted its stake in shares of Assurant by 503.1% in the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 161 shares in the last quarter. Finally, Richardson Financial Services Inc. grew its holdings in shares of Assurant by 42.8% during the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider's stock worth $61,000 after purchasing an additional 86 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the sale, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company's stock.

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Analyst Upgrades and Downgrades

AIZ has been the topic of several research reports. StockNews.com lowered shares of Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Truist Financial raised their target price on shares of Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods raised shares of Assurant from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $234.17.

Assurant Stock Down 2.9 %

AIZ stock traded down $5.45 during trading on Monday, reaching $181.56. The stock had a trading volume of 738,265 shares, compared to its average volume of 373,434. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $207.77 and a 200 day moving average price of $207.66. The company has a market capitalization of $9.22 billion, a P/E ratio of 12.55 and a beta of 0.53. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, equities analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, February 3rd were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, February 3rd. Assurant's dividend payout ratio (DPR) is currently 22.11%.

Assurant 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.