Massachusetts Financial Services Co. MA lessened its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,197,150 shares of the financial services provider's stock after selling 204,457 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.33% of Assurant worth $255,256,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Assurant by 36.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock valued at $708,016,000 after purchasing an additional 891,292 shares during the period. Norges Bank acquired a new stake in Assurant during the 4th quarter worth approximately $143,475,000. World Investment Advisors LLC purchased a new position in shares of Assurant in the 3rd quarter valued at approximately $48,430,000. Point72 Asset Management L.P. purchased a new stake in shares of Assurant during the third quarter worth approximately $26,630,000. Finally, Amundi raised its position in Assurant by 45.0% during the 4th quarter. Amundi now owns 281,199 shares of the financial services provider's stock worth $57,764,000 after buying an additional 87,323 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.
Assurant Price Performance
AIZ traded up $13.69 during trading on Wednesday, reaching $193.42. The stock had a trading volume of 932,345 shares, compared to its average volume of 377,668. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 13.37 and a beta of 0.53. The stock has a 50 day moving average of $205.34 and a two-hundred day moving average of $207.23. 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 issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. As a group, equities analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.
Assurant Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, February 3rd were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Monday, February 3rd. Assurant's dividend payout ratio is currently 22.11%.
Wall Street Analyst Weigh In
AIZ has been the topic of several recent analyst reports. StockNews.com lowered shares of Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Truist Financial raised their price objective on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $233.17.
View Our Latest Stock Report on Assurant
Insider Transactions at Assurant
In related news, EVP Biju Nair sold 3,000 shares of the 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 completion of the sale, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.
Assurant Profile
(
Free Report)
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.
See Also
Before you consider Assurant, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Assurant wasn't on the list.
While Assurant currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
