Toronto Dominion Bank Cuts Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Toronto Dominion Bank lessened its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 19.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,539 shares of the financial services provider's stock after selling 5,982 shares during the quarter. Toronto Dominion Bank's holdings in Assurant were worth $4,246,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. AMF Tjanstepension AB purchased a new position in shares of Assurant in the 1st quarter valued at about $39,013,000. Gillson Capital LP purchased a new position in shares of Assurant during the 4th quarter valued at approximately $27,013,000. Northern Trust Corp increased its holdings in shares of Assurant by 23.4% in the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider's stock valued at $124,194,000 after acquiring an additional 139,680 shares during the last quarter. TD Asset Management Inc lifted its holdings in Assurant by 20.4% in the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider's stock worth $94,118,000 after acquiring an additional 96,021 shares during the last quarter. Finally, Ossiam acquired a new position in shares of Assurant during the fourth quarter valued at $14,764,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Martin Jenns sold 1,500 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares of the company's stock, valued at approximately $717,329.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Martin Jenns sold 1,500 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of the business's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares of the company's stock, valued at approximately $593,962.88. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group lifted their price target on Assurant from $217.00 to $224.00 and gave the stock a "buy" rating in a research report on Monday, September 23rd. Bank of America decreased their target price on Assurant from $223.00 to $222.00 and set a "buy" rating on the stock in a research report on Thursday, July 11th. StockNews.com cut Assurant from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Piper Sandler lowered shares of Assurant from an "overweight" rating to a "neutral" rating and set a $200.00 target price on the stock. in a report on Thursday, August 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on Assurant from $186.00 to $194.00 and gave the company a "market perform" rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $209.00.

Assurant Price Performance

Shares of AIZ stock traded down $1.05 on Monday, reaching $198.90. The company's stock had a trading volume of 409,124 shares, compared to its average volume of 351,034. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57. Assurant, Inc. has a 1 year low of $141.83 and a 1 year high of $201.55. The stock's fifty day simple moving average is $186.48 and its 200-day simple moving average is $178.01. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.58 by $0.50. The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $3.89 earnings per share. Analysts forecast that Assurant, Inc. will post 16.54 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, September 3rd. Assurant's payout ratio is 20.10%.

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.