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

Invesco Ltd. lowered its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,155,737 shares of the financial services provider's stock after selling 7,841 shares during the period. Invesco Ltd. owned 2.25% of Assurant worth $246,426,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AIZ. Quantinno Capital Management LP raised its holdings in Assurant by 10.8% in the third quarter. Quantinno Capital Management LP now owns 5,805 shares of the financial services provider's stock worth $1,155,000 after purchasing an additional 566 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Assurant by 82.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,444 shares of the financial services provider's stock worth $486,000 after acquiring an additional 1,101 shares in the last quarter. National Bank of Canada FI lifted its position in Assurant by 198.4% during the 3rd quarter. National Bank of Canada FI now owns 41,909 shares of the financial services provider's stock valued at $8,334,000 after acquiring an additional 27,866 shares during the period. MML Investors Services LLC boosted its stake in Assurant by 19.5% during the third quarter. MML Investors Services LLC now owns 2,677 shares of the financial services provider's stock worth $532,000 after acquiring an additional 436 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Assurant by 13.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 16,322 shares of the financial services provider's stock worth $3,246,000 after purchasing an additional 1,888 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other news, EVP Biju Nair sold 3,000 shares of the firm'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 completion of the sale, the executive vice president now owns 17,708 shares of the company's stock, valued at $3,568,162. This trade represents a 14.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

AIZ has been the topic of several recent analyst reports. Piper Sandler upgraded Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 target price on the stock in a research note on Thursday, April 10th. Keefe, Bruyette & Woods reduced their target price on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. StockNews.com downgraded Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Truist Financial increased their target price on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $234.17.

Assurant Stock Up 0.6 %

Shares of NYSE AIZ traded up $1.12 during midday trading on Wednesday, reaching $194.92. 70,018 shares of the company's stock traded hands, compared to its average volume of 459,863. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 13.47 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 company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The stock's 50 day simple moving average is $203.62 and its 200-day simple moving average is $207.06.

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

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, February 3rd were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Monday, February 3rd. Assurant's payout ratio is 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.