Korea Investment CORP Sells 4,900 Shares of Assurant, Inc. (NYSE:AIZ)

Korea Investment CORP trimmed its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 10.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,419 shares of the financial services provider's stock after selling 4,900 shares during the period. Korea Investment CORP owned 0.08% of Assurant worth $8,831,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC grew its position in shares of Assurant by 57.6% in the 3rd quarter. Cerity Partners LLC now owns 8,105 shares of the financial services provider's stock worth $1,612,000 after buying an additional 2,963 shares during the period. Bank of Montreal Can boosted its stake in Assurant by 9.3% during the third quarter. Bank of Montreal Can now owns 47,011 shares of the financial services provider's stock worth $9,400,000 after acquiring an additional 4,016 shares in the last quarter. FMR LLC grew its holdings in 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 period. Townsquare Capital LLC increased its stake in shares of Assurant by 9.4% during the third quarter. Townsquare Capital LLC now owns 1,507 shares of the financial services provider's stock valued at $300,000 after purchasing an additional 130 shares in the last quarter. Finally, Glenmede Trust Co. NA purchased a new position in shares of Assurant during the third quarter valued at approximately $229,000. Institutional investors own 92.65% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AIZ. StockNews.com downgraded Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Truist Financial boosted their target price on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods upgraded Assurant from a "market perform" rating to an "outperform" rating and raised their price target for the company from $212.00 to $230.00 in a report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $234.17.

Insider Activity

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 transaction, the executive vice president now owns 17,708 shares of the company's stock, 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 filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company's stock.

Assurant Stock Down 8.0 %

Shares of AIZ stock traded down $16.28 during mid-day trading on Friday, hitting $187.14. The company's stock had a trading volume of 867,097 shares, compared to its average volume of 371,825. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 12.93 and a beta of 0.61. 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, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55. The business has a 50-day moving average price of $208.45 and a 200 day moving average price of $207.65.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results 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 return on equity of 17.25% and a net margin of 6.40%. Research analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, February 3rd were paid a dividend of $0.80 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.71%. Assurant's dividend payout ratio is presently 22.11%.

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.