Northwest & Ethical Investments L.P. Lowers Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Northwest & Ethical Investments L.P. trimmed its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 41.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,569 shares of the financial services provider's stock after selling 3,234 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Assurant were worth $974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIZ. Natixis Advisors LLC lifted its stake in Assurant by 10.6% in the third quarter. Natixis Advisors LLC now owns 15,253 shares of the financial services provider's stock valued at $3,033,000 after buying an additional 1,456 shares during the last quarter. Pathstone Holdings LLC increased its holdings in shares of 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 during the period. Caprock Group LLC raised its position in Assurant by 30.2% in the 3rd quarter. Caprock Group LLC now owns 1,622 shares of the financial services provider's stock valued at $323,000 after purchasing an additional 376 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Assurant during the 3rd quarter worth $280,000. Finally, PNC Financial Services Group Inc. grew its position in Assurant by 3.6% during the 3rd 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 last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Assurant Price Performance

AIZ stock traded up $1.39 on Tuesday, reaching $210.83. 305,430 shares of the company's stock were exchanged, compared to its average volume of 347,315. The stock has a fifty day moving average of $208.96 and a 200-day moving average of $206.96. The firm has a market cap of $10.71 billion, a PE ratio of 14.57 and a beta of 0.61. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.52%. Assurant's dividend payout ratio is presently 22.11%.

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.