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

Citigroup Inc. decreased its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,364 shares of the financial services provider's stock after selling 5,375 shares during the quarter. Citigroup Inc. owned about 0.10% of Assurant worth $10,214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in shares of Assurant by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider's stock worth $173,179,000 after purchasing an additional 255,471 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Assurant by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider's stock worth $116,159,000 after buying an additional 12,935 shares during the period. TD Asset Management Inc grew its stake in shares of Assurant by 20.4% in the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider's stock valued at $94,118,000 after buying an additional 96,021 shares in the last quarter. Mizuho Securities USA LLC grew its stake 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 buying an additional 460,937 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Assurant by 0.7% in the 2nd quarter. Federated Hermes Inc. now owns 383,549 shares of the financial services provider's stock valued at $63,765,000 after buying an additional 2,700 shares during the period. Hedge funds and other institutional investors own 92.65% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler raised their target price on Assurant from $200.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $194.00 to $212.00 and gave the company a "market perform" rating in a research note on Tuesday, November 12th. Truist Financial upped their target price on shares of Assurant from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a research report on Thursday, October 17th. Finally, Bank of America upped their price objective on Assurant from $228.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $225.20.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the sale, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

Assurant Stock Up 0.0 %

Shares of NYSE:AIZ opened at $227.10 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 16.20 and a beta of 0.57. The firm's 50 day moving average price is $203.46 and its 200 day moving average price is $186.07.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.48. The business had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company's revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $4.29 EPS. As a group, equities research analysts predict that Assurant, Inc. will post 15.41 earnings per share for the current fiscal year.

Assurant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Monday, December 9th. This is a positive change from Assurant's previous quarterly dividend of $0.72. Assurant's dividend payout ratio (DPR) is 22.82%.

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.