Jane Street Group LLC Lowers Stake in Assurant, Inc. (NYSE:AIZ)

Jane Street Group LLC reduced its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 64.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,753 shares of the financial services provider's stock after selling 54,515 shares during the quarter. Jane Street Group LLC owned about 0.06% of Assurant worth $5,917,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC acquired a new position in Assurant during the third quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Assurant during the 2nd quarter worth approximately $31,000. Huntington National Bank grew its holdings in shares of Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider's stock worth $39,000 after acquiring an additional 163 shares during the period. Richardson Financial Services Inc. increased its stake in Assurant by 62.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 77 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in Assurant during the third quarter worth $42,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on AIZ. Bank of America upped their target price on Assurant from $228.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Piper Sandler increased their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Truist Financial lifted their target price on shares of Assurant from $220.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. UBS Group increased their price target on shares of Assurant from $217.00 to $224.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $194.00 to $212.00 and gave the stock a "market perform" rating in a research note on Tuesday, November 12th. Four equities 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, Assurant presently has an average rating of "Hold" and a consensus price target of $229.50.

Insider Activity at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were 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 directly owns 20,658 shares in the company, valued at approximately $4,321,240.44. The trade was 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 the SEC website. Insiders own 0.53% of the company's stock.

Assurant Trading Down 0.3 %

Shares of Assurant stock traded down $0.56 during mid-day trading on Monday, hitting $217.27. 441,123 shares of the stock were exchanged, compared to its average volume of 351,724. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 15.54 and a beta of 0.61. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The company has a 50-day simple moving average of $208.10 and a 200 day simple moving average of $189.78.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.48. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. Assurant's revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $4.29 earnings per share. Research analysts forecast that Assurant, Inc. will post 15.38 EPS for the current year.

Assurant Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.47%. This is an increase from Assurant's previous quarterly dividend of $0.72. Assurant's payout ratio is currently 22.82%.

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.