Assurant, Inc. (NYSE:AIZ) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 34.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,404 shares of the financial services provider's stock after selling 1,258 shares during the period. iA Global Asset Management Inc.'s holdings in Assurant were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of 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 buying an additional 891,292 shares during the period. World Investment Advisors LLC purchased a new stake in Assurant in the third quarter worth $48,430,000. Point72 Asset Management L.P. bought a new stake in shares of Assurant during the third quarter worth $26,630,000. Amundi boosted its stake in shares of Assurant by 45.0% during the fourth quarter. Amundi now owns 281,199 shares of the financial services provider's stock valued at $57,764,000 after purchasing an additional 87,323 shares during the period. Finally, FMR LLC grew its holdings in shares of Assurant by 6.0% in the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider's stock worth $231,392,000 after purchasing an additional 65,874 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Wall Street Analyst Weigh In

AIZ has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded shares of Assurant from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $212.00 to $230.00 in a report on Thursday, February 20th. Truist Financial boosted their price target on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, February 13th. 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 on the stock. Finally, StockNews.com cut Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $234.17.

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Assurant Stock Performance

Shares of NYSE:AIZ traded up $0.78 during trading on Tuesday, hitting $210.22. The stock had a trading volume of 96,707 shares, compared to its average volume of 347,982. 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 12-month low of $160.12 and a 12-month high of $230.55. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 14.54 and a beta of 0.61. The stock has a 50-day simple moving average of $208.84 and a two-hundred day simple moving average of $206.83.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share 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%. On average, equities research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.52%. Assurant's payout ratio is 22.11%.

Insider Buying and Selling

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 transaction of $604,500.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Assurant Company 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.