Wellington Management Group LLP Sells 33,896 Shares of Assurant, Inc. (NYSE:AIZ)

Wellington Management Group LLP lessened its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 378,944 shares of the financial services provider's stock after selling 33,896 shares during the quarter. Wellington Management Group LLP owned 0.74% of Assurant worth $80,798,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Cascade Investment Advisors Inc. boosted its holdings in shares of Assurant by 0.7% in the 4th quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider's stock valued at $1,593,000 after purchasing an additional 50 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Assurant by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 75 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Assurant by 1.1% in the 4th quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider's stock valued at $1,642,000 after purchasing an additional 84 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Assurant by 30.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 364 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 84 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its stake in shares of Assurant by 42.8% in the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 86 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com cut Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Piper Sandler raised Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 target price for the company in a research report on Thursday. Keefe, Bruyette & Woods decreased their price target on Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Truist Financial increased their price target on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $234.17.

Assurant Stock Down 0.4 %

AIZ stock traded down $0.80 during mid-day trading on Thursday, reaching $192.45. 62,301 shares of the company traded hands, compared to its average volume of 376,471. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 13.29 and a beta of 0.53. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The firm's 50 day moving average price is $205.34 and its 200 day moving average price is $207.23.

Assurant (NYSE:AIZ - Get Free Report) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping 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%. As a group, equities research analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, February 3rd were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.66%. The ex-dividend date was Monday, February 3rd. Assurant's dividend payout ratio (DPR) is 22.11%.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the transaction, the executive vice president now directly owns 17,708 shares of the company's stock, valued at $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

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.