Assurant, Inc. (NYSE:AIZ) Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB reduced its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 66.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,107 shares of the financial services provider's stock after selling 42,025 shares during the quarter. AMF Tjanstepension AB's holdings in Assurant were worth $4,503,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Assurant in the 3rd quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant during the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC lifted its holdings in Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 75 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Assurant by 219.1% during the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock worth $32,000 after purchasing an additional 103 shares in the last quarter. Finally, Huntington National Bank grew its stake in shares of Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider's stock worth $39,000 after purchasing an additional 163 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods raised shares of Assurant from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $212.00 to $230.00 in a report on Thursday, February 20th. StockNews.com cut Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Morgan Stanley began coverage on Assurant in a report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 price objective for the company. Finally, Truist Financial raised 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Assurant presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.17.

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Insider Activity at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the transaction, the executive vice president now directly owns 17,708 shares in the company, valued at $3,568,162. This trade represents a 14.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

Assurant Price Performance

Assurant stock traded down $2.54 during midday trading on Wednesday, reaching $201.52. 431,073 shares of the company were exchanged, compared to its average volume of 345,996. The firm's 50-day simple moving average is $208.32 and its 200-day simple moving average is $205.92. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 13.93 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The business also recently announced 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 1.59%. 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.