Taika Capital LP acquired a new stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,690 shares of the financial services provider's stock, valued at approximately $360,000.
Several other institutional investors and hedge funds have also recently modified their holdings of AIZ. Bank of New York Mellon Corp raised its position in shares of Assurant by 36.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock valued at $708,016,000 after purchasing an additional 891,292 shares during the period. Mizuho Securities USA LLC increased its holdings in Assurant by 11,480.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider's stock valued at $92,460,000 after acquiring an additional 460,937 shares during the last quarter. World Investment Advisors LLC bought a new stake in Assurant in the 3rd quarter valued at $48,430,000. Point72 Asset Management L.P. bought a new stake in Assurant in the 3rd quarter valued at $26,630,000. Finally, Amundi increased its holdings in Assurant by 45.0% in the 4th quarter. Amundi now owns 281,199 shares of the financial services provider's stock valued at $57,764,000 after acquiring an additional 87,323 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on AIZ shares. Morgan Stanley started coverage on shares of Assurant in a report on Thursday, December 5th. They issued an "equal weight" rating and a $251.00 price target on the stock. Truist Financial lifted their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised shares of Assurant from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $212.00 to $230.00 in a research note on Thursday, February 20th. Finally, StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Assurant presently has a consensus rating of "Moderate Buy" and an average target price of $234.17.
View Our Latest Analysis on Assurant
Assurant Trading Up 1.2 %
Assurant stock traded up $2.50 during trading hours on Thursday, hitting $204.08. The company had a trading volume of 434,344 shares, compared to its average volume of 346,515. The firm has a market cap of $10.37 billion, a P/E ratio of 14.10 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The company has a 50-day moving average price of $208.08 and a two-hundred day moving average price of $205.89.
Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. On average, sell-side analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.
Assurant Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.57%. Assurant's dividend payout ratio is currently 22.11%.
Insider Activity
In other Assurant news, EVP Biju Nair sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.53% of the company's stock.
Assurant Profile
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Free Report)
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.
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