Assurant, Inc. (NYSE:AIZ) Shares Bought by abrdn plc

abrdn plc grew its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 149.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 28,982 shares of the financial services provider's stock after acquiring an additional 17,357 shares during the quarter. abrdn plc owned about 0.06% of Assurant worth $5,729,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Catalyst Financial Partners LLC lifted its position in Assurant by 4.2% in the second 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 raised its stake in shares of 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 period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Assurant by 1.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider's stock worth $1,200,000 after acquiring an additional 73 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider's stock worth $33,000 after purchasing an additional 77 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Assurant by 1.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider's stock valued at $1,376,000 after purchasing an additional 78 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Assurant 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 value of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares of the company's stock, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 completion of the sale, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. This represents 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 insiders.

Wall Street Analyst Weigh In

AIZ has been the topic of several research analyst reports. Piper Sandler upped their price objective on Assurant from $200.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price target on shares of Assurant from $186.00 to $194.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 14th. StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a research report on Thursday, October 17th. Bank of America raised their target price on shares of Assurant from $228.00 to $233.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, UBS Group upped their target price on Assurant from $217.00 to $224.00 and gave the stock a "buy" rating in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $217.00.

Assurant Stock Down 0.3 %

AIZ stock traded down $0.57 during trading on Monday, reaching $191.19. 235,746 shares of the company traded hands, compared to its average volume of 343,907. The business has a 50 day simple moving average of $194.50 and a 200 day simple moving average of $180.48. Assurant, Inc. has a 12 month low of $158.29 and a 12 month high of $201.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 12.78, a price-to-earnings-growth ratio of 1.97 and a beta of 0.57.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.89 billion. During the same quarter last year, the firm earned $3.89 EPS. The business's quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Assurant, Inc. will post 14.58 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.51%. Assurant's dividend payout ratio is currently 19.19%.

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.