TD Asset Management Inc. Sells 37,727 Shares of Assurant, Inc. (NYSE:AIZ)

TD Asset Management Inc. trimmed its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 499,818 shares of the financial services provider's stock after selling 37,727 shares during the quarter. TD Asset Management Inc. owned 0.97% of Assurant worth $106,571,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pathstone Holdings LLC raised its holdings in Assurant by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider's stock valued at $2,006,000 after acquiring an additional 52 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Assurant in the third quarter worth $280,000. PNC Financial Services Group Inc. lifted its position in Assurant by 3.6% in the third quarter. PNC Financial Services Group Inc. now owns 7,673 shares of the financial services provider's stock worth $1,526,000 after purchasing an additional 268 shares during the period. Cerity Partners LLC boosted its position in shares of Assurant by 57.6% during the 3rd quarter. Cerity Partners LLC now owns 8,105 shares of the financial services provider's stock valued at $1,612,000 after acquiring an additional 2,963 shares in the last quarter. Finally, Davis R M Inc. bought a new stake in Assurant in the third quarter valued at about $219,000. Institutional investors and hedge funds own 92.65% of the company's stock.

Wall Street Analyst Weigh In

AIZ has been the topic of a number of recent research reports. StockNews.com downgraded Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Morgan Stanley began coverage on Assurant in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $251.00 price target on the stock. Keefe, Bruyette & Woods upgraded Assurant from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $212.00 to $230.00 in a research note on Thursday, February 20th. Finally, Truist Financial upped their target price on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $234.17.

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Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares of the company's stock, valued at $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

Assurant Price Performance

NYSE AIZ traded down $5.37 on Friday, hitting $206.15. 384,854 shares of the company were exchanged, compared to its average volume of 368,798. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The firm has a 50 day moving average of $208.93 and a two-hundred day moving average of $207.11. 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 company has a market cap of $10.47 billion, a P/E ratio of 14.25 and a beta of 0.61.

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

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.55%. Assurant's dividend payout ratio (DPR) is currently 22.11%.

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.