Lyrical Asset Management LP Trims Stock Position in Assurant, Inc. (NYSE:AIZ)

Lyrical Asset Management LP decreased its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 728,810 shares of the financial services provider's stock after selling 1,723 shares during the quarter. Assurant makes up 2.3% of Lyrical Asset Management LP's holdings, making the stock its 21st biggest position. Lyrical Asset Management LP owned about 1.42% of Assurant worth $155,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake 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 in the last quarter. Geode Capital Management LLC raised its holdings in Assurant by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider's stock valued at $299,724,000 after acquiring an additional 10,956 shares during the last quarter. Norges Bank purchased a new position in Assurant in the 4th quarter worth approximately $143,475,000. Amundi boosted its holdings in shares of Assurant by 45.0% during the 4th quarter. Amundi now owns 281,199 shares of the financial services provider's stock worth $57,764,000 after purchasing an additional 87,323 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of Assurant in the third quarter valued at approximately $48,430,000. Hedge funds and other institutional investors own 92.65% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial raised their target price on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research note 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 for the company in a research report on Thursday. Keefe, Bruyette & Woods decreased their target price on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded shares of Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.17.

Assurant Stock Down 1.0 %

NYSE:AIZ traded down $1.99 during midday trading on Friday, reaching $188.33. The company had a trading volume of 137,164 shares, compared to its average volume of 378,012. The stock's fifty day simple moving average is $204.89 and its 200-day simple moving average is $207.18. The company has a current ratio of 0.43, a quick 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 firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 13.02 and a beta of 0.53.

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 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, sell-side analysts anticipate 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 was paid on Monday, March 31st. Investors of record on Monday, February 3rd were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Monday, February 3rd. Assurant's dividend payout ratio (DPR) is 22.11%.

Insiders Place Their Bets

In related news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were 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 in the company, valued at $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently 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.