Intech Investment Management LLC Sells 30,376 Shares of Assurant, Inc. (NYSE:AIZ)

Intech Investment Management LLC lessened its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 41.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,622 shares of the financial services provider's stock after selling 30,376 shares during the period. Intech Investment Management LLC owned 0.09% of Assurant worth $9,301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cascade Investment Advisors Inc. increased its stake in shares of Assurant by 0.7% in the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider's stock valued at $1,593,000 after buying an additional 50 shares during the period. Pathstone Holdings LLC increased its stake in shares of Assurant by 0.5% in the third quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider's stock valued at $2,006,000 after buying an additional 52 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after buying an additional 75 shares during the period. CIBC Asset Management Inc boosted its position in shares of Assurant by 1.1% during the 4th quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider's stock valued at $1,642,000 after purchasing an additional 84 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Assurant by 30.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 364 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

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Analyst Upgrades and Downgrades

AIZ has been the topic of several research analyst reports. Morgan Stanley initiated coverage on Assurant in a research report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 target price on the stock. Keefe, Bruyette & Woods upgraded Assurant from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $212.00 to $230.00 in a report on Thursday, February 20th. StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Finally, Truist Financial increased their price target on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $234.17.

Insider Buying and Selling

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value 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. The trade was a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Assurant Stock Down 2.5 %

Shares of Assurant stock traded down $5.22 on Friday, hitting $206.83. The company had a trading volume of 1,361,802 shares, compared to its average volume of 347,992. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 14.29 and a beta of 0.61. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The stock has a 50 day moving average of $208.65 and a 200-day moving average of $206.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping 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%. As a group, sell-side analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.55%. Assurant's dividend payout ratio (DPR) is currently 22.11%.

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.