SVB Wealth LLC Purchases Shares of 1,740 Assurant, Inc. (NYSE:AIZ)

SVB Wealth LLC bought a new position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,740 shares of the financial services provider's stock, valued at approximately $371,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AIZ. True Wealth Design LLC acquired a new stake in shares of Assurant during the third quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Assurant during the fourth quarter worth $28,000. Huntington National Bank raised its position in shares of Assurant by 509.4% during the third quarter. Huntington National Bank now owns 195 shares of the financial services provider's stock worth $39,000 after purchasing an additional 163 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Assurant during the third quarter worth $42,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Assurant during the third quarter worth $56,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Biju Nair sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction 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 represents a 14.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.53% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently weighed in on AIZ shares. Truist Financial upped their price target on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods raised Assurant from a "market perform" rating to an "outperform" rating and upped their price target for the company from $212.00 to $230.00 in a research report on Thursday, February 20th. StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley started coverage on Assurant in a research report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $234.17.

Assurant Stock Up 1.8 %

AIZ stock traded up $3.67 during mid-day trading on Friday, hitting $204.94. The stock had a trading volume of 489,429 shares, compared to its average volume of 344,441. 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 1-year low of $160.12 and a 1-year high of $230.55. The company has a fifty day moving average of $208.63 and a 200 day moving average of $205.51. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 14.16 and a beta of 0.61.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, equities analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.56%. The ex-dividend date is Monday, February 3rd. Assurant's payout ratio is currently 22.11%.

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.