Amalgamated Bank Cuts Position in Assurant, Inc. (NYSE:AIZ)

Amalgamated Bank trimmed its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 39.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,193 shares of the financial services provider's stock after selling 6,697 shares during the quarter. Amalgamated Bank's holdings in Assurant were worth $2,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of AIZ. QRG Capital Management Inc. boosted its holdings in Assurant by 210.7% in the 1st quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider's stock valued at $1,639,000 after purchasing an additional 5,903 shares during the last quarter. SteelPeak Wealth LLC lifted its stake in Assurant by 770.1% in the second quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider's stock valued at $2,170,000 after buying an additional 11,551 shares during the period. UniSuper Management Pty Ltd increased its stake in shares of Assurant by 608.5% in the first quarter. UniSuper Management Pty Ltd now owns 5,640 shares of the financial services provider's stock valued at $1,062,000 after buying an additional 4,844 shares during the period. Bessemer Group Inc. grew its stake in Assurant by 3,412.0% during the first quarter. Bessemer Group Inc. now owns 14,645 shares of the financial services provider's stock worth $2,757,000 after purchasing an additional 14,228 shares during the period. Finally, Cetera Investment Advisers grew its stake in Assurant by 443.7% during the first quarter. Cetera Investment Advisers now owns 12,973 shares of the financial services provider's stock worth $2,442,000 after purchasing an additional 10,587 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares of the company's stock, valued at approximately $593,962.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.53% of the company's stock.

Assurant Stock Up 1.0 %

NYSE:AIZ traded up $2.07 during mid-day trading on Tuesday, hitting $212.80. The company had a trading volume of 146,402 shares, compared to its average volume of 344,485. Assurant, Inc. has a 1 year low of $159.32 and a 1 year high of $214.82. The firm has a market capitalization of $11.02 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.19 and a beta of 0.57. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $195.46 and a 200-day simple moving average of $181.69.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.52 by $0.48. The firm had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The business's quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.29 earnings per share. Equities analysts forecast that Assurant, Inc. will post 15.05 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Tuesday, September 3rd. Assurant's payout ratio is 20.54%.

Analysts Set New Price Targets

AIZ has been the topic of a number of research analyst reports. Bank of America upped their target price on Assurant from $228.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. UBS Group lifted their target price on shares of Assurant from $217.00 to $224.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $194.00 to $212.00 and gave the stock a "market perform" rating in a report on Tuesday. StockNews.com downgraded shares of Assurant from a "buy" rating to a "hold" rating in a report on Thursday, October 17th. Finally, Truist Financial boosted their target price on Assurant from $220.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Assurant has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.

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.