DnB Asset Management AS lessened its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 14.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,770 shares of the financial services provider's stock after selling 1,608 shares during the period. DnB Asset Management AS's holdings in Assurant were worth $2,083,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in Assurant by 36.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock worth $708,016,000 after acquiring an additional 891,292 shares during the last quarter. FMR LLC raised its holdings in shares of Assurant by 6.0% in the 3rd 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 in the last quarter. Norges Bank purchased a new stake in shares of Assurant during the 4th quarter worth $143,475,000. Amundi lifted its position in shares of Assurant by 45.0% during the 4th quarter. Amundi now owns 281,199 shares of the financial services provider's stock worth $57,764,000 after purchasing an additional 87,323 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Assurant during the third quarter worth $48,430,000. Institutional investors and hedge funds own 92.65% of the company's stock.
Assurant Stock Performance
AIZ traded down $16.28 during trading on Friday, hitting $187.14. 867,097 shares of the stock were exchanged, compared to its average volume of 371,825. 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 1-year low of $160.12 and a 1-year high of $230.55. The stock has a fifty day moving average price of $208.45 and a two-hundred day moving average price of $207.75. The firm has a market capitalization of $9.51 billion, a P/E ratio of 12.93 and a beta of 0.53.
Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping 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, sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.
Assurant Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, February 3rd were paid a $0.80 dividend. The ex-dividend date was Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.71%. Assurant's dividend payout ratio is presently 22.11%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on AIZ. StockNews.com downgraded Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Keefe, Bruyette & Woods raised Assurant from a "market perform" rating to an "outperform" rating and upped their price target for the company from $212.00 to $230.00 in a report on Thursday, February 20th. Finally, Truist Financial increased their price target on shares of Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Assurant currently has an average rating of "Moderate Buy" and an average target price of $234.17.
Get Our Latest Stock Analysis on Assurant
Insider Activity
In other 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 transaction of $604,500.00. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company's stock.
About Assurant
(
Free Report)
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.
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