Assurant, Inc. (NYSE:AIZ) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 48.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,182 shares of the financial services provider's stock after selling 4,004 shares during the period. Truist Financial Corp's holdings in Assurant were worth $695,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AIZ. Catalyst Financial Partners LLC lifted its position in shares of Assurant by 4.2% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider's stock worth $244,000 after buying an additional 59 shares during the last quarter. Empirical Finance LLC lifted its position in Assurant by 3.3% in the first quarter. Empirical Finance LLC now owns 1,980 shares of the financial services provider's stock valued at $373,000 after acquiring an additional 64 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Assurant by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider's stock valued at $1,200,000 after acquiring an additional 73 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 77 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Assurant by 35.7% in the first quarter. Covestor Ltd now owns 346 shares of the financial services provider's stock valued at $65,000 after acquiring an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AIZ shares. StockNews.com upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $186.00 to $194.00 and gave the company a "market perform" rating in a research note on Wednesday, August 14th. UBS Group upped their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Piper Sandler upped their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Bank of America upped their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.60.

Insider Buying and Selling

In related news, CAO Dimitry Dirienzo sold 550 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Martin Jenns sold 1,500 shares of Assurant 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 completion of the transaction, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of the company'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 in the company, valued at approximately $593,962.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Assurant Stock Performance

Shares of NYSE:AIZ traded up $2.18 on Wednesday, reaching $196.97. The company's stock had a trading volume of 283,220 shares, compared to its average volume of 349,377. The stock's 50-day moving average is $191.75 and its two-hundred day moving average is $179.01. Assurant, Inc. has a 52-week low of $144.61 and a 52-week high of $201.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $10.24 billion, a P/E ratio of 13.59, a PEG ratio of 1.61 and a beta of 0.57.

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

Assurant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a yield of 1.46%. Assurant's dividend payout ratio is currently 20.10%.

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.