Wellington Management Group LLP Sells 7,717 Shares of Assurant, Inc. (NYSE:AIZ)

Wellington Management Group LLP trimmed its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 1.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 412,840 shares of the financial services provider's stock after selling 7,717 shares during the quarter. Wellington Management Group LLP owned about 0.80% of Assurant worth $82,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Assurant by 6.0% in the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider's stock worth $231,392,000 after acquiring an additional 65,874 shares during the last quarter. AQR Capital Management LLC raised its position in Assurant by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider's stock worth $173,179,000 after purchasing an additional 255,471 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Assurant by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider's stock worth $116,159,000 after purchasing an additional 12,935 shares during the last quarter. TD Asset Management Inc lifted its holdings in Assurant by 20.4% during the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider's stock worth $94,118,000 after buying an additional 96,021 shares in the last quarter. Finally, Mizuho Securities USA LLC boosted its position 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 buying an additional 460,937 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Trading Up 0.2 %

NYSE AIZ traded up $0.54 during trading on Wednesday, reaching $216.85. 274,818 shares of the stock traded hands, compared to its average volume of 352,168. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.12 billion, a price-to-earnings ratio of 15.43 and a beta of 0.61. The stock's 50-day moving average price is $206.92 and its 200 day moving average price is $188.76.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.48. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The firm's revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.29 EPS. Analysts predict that Assurant, Inc. will post 15.38 EPS for the current year.

Assurant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.48%. This is a positive change from Assurant's previous quarterly dividend of $0.72. Assurant's dividend payout ratio (DPR) is currently 22.82%.

Insider Activity

In other news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares of the company's stock, valued at $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 is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on Assurant from $194.00 to $212.00 and gave the company a "market perform" rating in a research note on Tuesday, November 12th. Piper Sandler raised their target price 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. Bank of America lifted their price target 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. Morgan Stanley assumed coverage on shares of Assurant in a report on Thursday, December 5th. They issued an "equal weight" rating and a $251.00 price objective on the stock. Finally, StockNews.com lowered shares of Assurant from a "buy" rating to a "hold" rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $229.50.

About Assurant

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.