Pacer Advisors Inc. Has $1.24 Million Stake in Assurant, Inc. (NYSE:AIZ)

Pacer Advisors Inc. raised its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 45.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,818 shares of the financial services provider's stock after buying an additional 1,829 shares during the quarter. Pacer Advisors Inc.'s holdings in Assurant were worth $1,241,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Assurant by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 40,568 shares of the financial services provider's stock worth $6,744,000 after acquiring an additional 210 shares in the last quarter. Creative Planning raised its stake in shares of Assurant by 428.0% during the 2nd quarter. Creative Planning now owns 7,667 shares of the financial services provider's stock worth $1,275,000 after purchasing an additional 6,215 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Assurant by 10.6% during the 2nd quarter. Cetera Investment Advisers now owns 14,342 shares of the financial services provider's stock valued at $2,384,000 after buying an additional 1,369 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Assurant in the 2nd quarter valued at approximately $475,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Assurant by 444.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 24,500 shares of the financial services provider's stock worth $4,073,000 after buying an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on AIZ shares. Bank of America lifted their target price 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. Morgan Stanley initiated coverage on shares of Assurant in a research report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 target price on the stock. Keefe, Bruyette & Woods boosted their price target on Assurant from $194.00 to $212.00 and gave the stock a "market perform" rating in a research report on Tuesday, November 12th. StockNews.com upgraded Assurant from a "hold" rating to a "buy" rating in a research note on Monday, January 27th. Finally, Truist Financial raised their price objective on Assurant from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $229.50.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now owns 20,658 shares in the company, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company's stock.

Assurant Stock Performance

Shares of Assurant stock traded down $0.18 during trading on Thursday, reaching $214.64. The company's stock had a trading volume of 387,501 shares, compared to its average volume of 361,900. The business's fifty day moving average price is $213.86 and its 200-day moving average price is $201.02. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 15.31 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business posted $4.29 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts predict that Assurant, Inc. will post 15.82 earnings per share for the current year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.49%. The ex-dividend date is Monday, February 3rd. Assurant's payout ratio is currently 22.82%.

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.