Catalyst Funds Management Pty Ltd Raises Stock Position in Assurant, Inc. (NYSE:AIZ)

Catalyst Funds Management Pty Ltd lifted its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 775.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,500 shares of the financial services provider's stock after purchasing an additional 3,100 shares during the period. Catalyst Funds Management Pty Ltd's holdings in Assurant were worth $746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AIZ. Public Sector Pension Investment Board grew its holdings in Assurant by 2.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 9,021 shares of the financial services provider's stock valued at $1,794,000 after buying an additional 200 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Assurant by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider's stock valued at $1,657,000 after acquiring an additional 100 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Assurant by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,880 shares of the financial services provider's stock valued at $31,794,000 after acquiring an additional 6,756 shares during the last quarter. Blue Trust Inc. lifted its stake in Assurant by 28.6% in the 4th quarter. Blue Trust Inc. now owns 845 shares of the financial services provider's stock worth $168,000 after purchasing an additional 188 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Assurant by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider's stock worth $34,079,000 after purchasing an additional 24,887 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.

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Assurant Trading Down 0.8 %

Shares of Assurant stock traded down $1.79 on Thursday, reaching $211.91. The company had a trading volume of 357,633 shares, compared to its average volume of 436,035. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 14.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The firm's 50-day moving average price is $208.36 and its two-hundred day moving average price is $206.48. 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 posted its quarterly earnings data 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 net margin of 6.40% and a return on equity of 17.25%. As a group, research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, February 3rd. Assurant's dividend payout ratio (DPR) is currently 22.11%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Truist Financial lifted their target price on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Morgan Stanley assumed coverage on Assurant in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $251.00 price objective on the stock. StockNews.com downgraded Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods upgraded shares of Assurant from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Assurant has an average rating of "Moderate Buy" and an average price target of $234.17.

Insiders Place Their Bets

In other Assurant news, EVP Biju Nair sold 3,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

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.