Assurant, Inc. (NYSE:AIZ) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lowered its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 2.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 108,182 shares of the financial services provider's stock after selling 2,312 shares during the quarter. Rhumbline Advisers owned 0.21% of Assurant worth $23,066,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC boosted its stake in Assurant by 11,480.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider's stock worth $92,460,000 after purchasing an additional 460,937 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Assurant during the 3rd quarter worth $48,430,000. International Assets Investment Management LLC acquired a new stake in Assurant during the 3rd quarter worth $284,730,000. Point72 Asset Management L.P. acquired a new stake in Assurant during the 3rd quarter worth $26,630,000. Finally, FMR LLC boosted its stake in Assurant by 6.0% during the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider's stock worth $231,392,000 after purchasing an additional 65,874 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Trading Down 0.6 %

Shares of AIZ stock traded down $1.25 on Friday, hitting $199.73. 1,094,809 shares of the stock traded hands, compared to its average volume of 408,300. The stock has a market capitalization of $10.24 billion, a PE ratio of 13.80 and a beta of 0.62. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The firm's 50-day moving average price is $210.44 and its two-hundred day moving average price is $203.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.42 and a current ratio of 0.64.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating 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, analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.60%. Assurant's dividend payout ratio (DPR) is currently 22.11%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AIZ. StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Morgan Stanley initiated coverage on shares of Assurant in a research note on Thursday, December 5th. They set an "equal weight" rating and a $251.00 target price on the stock. Truist Financial boosted their price target on shares of Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods raised shares of Assurant from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $212.00 to $230.00 in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $234.17.

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the sale, the executive vice president now directly owns 17,708 shares in the company, valued at $3,568,162. This represents a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.