JPMorgan Chase & Co. Has $26.15 Million Position in Assurant, Inc. (NYSE:AIZ)

JPMorgan Chase & Co. cut its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 28.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,637 shares of the financial services provider's stock after selling 48,733 shares during the period. JPMorgan Chase & Co. owned approximately 0.24% of Assurant worth $26,149,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Assurant by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider's stock worth $1,657,000 after buying an additional 100 shares during the period. Blue Trust Inc. increased its stake in Assurant by 28.6% in the fourth quarter. Blue Trust Inc. now owns 845 shares of the financial services provider's stock valued at $168,000 after purchasing an additional 188 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in Assurant in the fourth quarter valued at approximately $329,000. Merit Financial Group LLC acquired a new stake in Assurant in the fourth quarter worth $254,000. Finally, Hennessy Advisors Inc. boosted its position in shares of Assurant by 6.9% during the fourth quarter. Hennessy Advisors Inc. now owns 54,000 shares of the financial services provider's stock worth $11,514,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Assurant Stock Down 0.5 %

NYSE:AIZ traded down $0.87 on Friday, hitting $189.45. 492,991 shares of the company's stock were exchanged, compared to its average volume of 380,480. The firm has a 50-day moving average price of $204.42 and a 200-day moving average price of $207.19. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $9.62 billion, a P/E ratio of 13.09 and a beta of 0.53.

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Assurant (NYSE:AIZ - Get Free Report) last released its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, February 3rd were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.69%. Assurant's dividend payout ratio is presently 22.11%.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of Assurant 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 completion of the transaction, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on AIZ. Truist Financial upped 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 on the stock in a report on Thursday. StockNews.com lowered shares of Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods dropped their price target on Assurant from $230.00 to $224.00 and set an "outperform" rating on the stock in a research note on Wednesday. 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $234.17.

Assurant 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.