Federated Hermes Inc. Has $70.50 Million Stake in Assurant, Inc. (NYSE:AIZ)

Federated Hermes Inc. reduced its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,619 shares of the financial services provider's stock after selling 15,598 shares during the quarter. Federated Hermes Inc. owned 0.64% of Assurant worth $70,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIZ. Bank of New York Mellon Corp increased its position in shares of Assurant by 36.7% during the 4th 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 purchasing an additional 891,292 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Assurant by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider's stock worth $299,724,000 after buying an additional 10,956 shares in the last quarter. Norges Bank bought a new position in shares of Assurant in the fourth quarter valued at approximately $143,475,000. Amundi grew its position in 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 acquiring an additional 87,323 shares during the last quarter. Finally, Barclays PLC increased its holdings in Assurant by 48.4% during the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider's stock valued at $38,243,000 after purchasing an additional 62,696 shares in the last quarter. 92.65% of the stock is owned by institutional investors.

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Assurant Stock Down 0.5 %

Shares of AIZ stock traded down $0.87 during trading on Friday, reaching $189.45. The company's stock had a trading volume of 492,991 shares, compared to its average volume of 379,970. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 13.09 and a beta of 0.53. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The business has a fifty day moving average price of $204.42 and a 200-day moving average price of $207.13. 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 (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating analysts' consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Analysts anticipate 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. Stockholders of record on Monday, February 3rd were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.69%. Assurant's payout ratio is 22.11%.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the transaction, the executive vice president now owns 17,708 shares in the company, valued at $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on AIZ. StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Truist Financial raised their price objective 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. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective for the company in a research report on Thursday. Finally, Keefe, Bruyette & Woods dropped their target price on Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $234.17.

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.