SG Americas Securities LLC Lowers Holdings in Assurant, Inc. (NYSE:AIZ)

SG Americas Securities LLC reduced its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 97.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,472 shares of the financial services provider's stock after selling 59,202 shares during the period. SG Americas Securities LLC's holdings in Assurant were worth $314,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its holdings in shares of Assurant by 11,480.4% in the third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider's stock valued at $92,460,000 after purchasing an additional 460,937 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Assurant during the 3rd quarter worth $48,430,000. International Assets Investment Management LLC bought a new stake in Assurant in the 3rd quarter valued at about $284,730,000. Point72 Asset Management L.P. purchased a new position in shares of Assurant during the third quarter worth about $26,630,000. Finally, FMR LLC lifted its position in Assurant by 6.0% in the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider's stock valued at $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 Stock Up 0.2 %

Shares of AIZ stock traded up $0.42 during mid-day trading on Friday, hitting $215.22. The company's stock had a trading volume of 291,761 shares, compared to its average volume of 359,659. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The business has a 50-day moving average price of $213.38 and a 200 day moving average price of $201.43. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 15.35 and a beta of 0.62. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The business had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the firm posted $4.29 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts predict that Assurant, Inc. will post 15.82 EPS for the current fiscal year.

Assurant Announces Dividend

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 given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.49%. Assurant's dividend payout ratio is currently 22.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AIZ. Morgan Stanley initiated coverage on Assurant in a research report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 price objective on the stock. StockNews.com raised Assurant from a "hold" rating to a "buy" rating in a report on Monday, January 27th. Keefe, Bruyette & Woods lifted their price target on Assurant from $194.00 to $212.00 and gave the stock a "market perform" rating in a report on Tuesday, November 12th. Finally, Truist Financial increased their price target on Assurant from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $229.50.

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.