Assurant, Inc. (NYSE:AIZ) Shares Bought by Zacks Investment Management

Zacks Investment Management lifted its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 30.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 67,621 shares of the financial services provider's stock after buying an additional 15,726 shares during the quarter. Zacks Investment Management owned approximately 0.13% of Assurant worth $13,447,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. National Bank of Canada FI grew its position in shares of Assurant by 198.4% in the third quarter. National Bank of Canada FI now owns 41,909 shares of the financial services provider's stock valued at $8,334,000 after purchasing an additional 27,866 shares during the period. iA Global Asset Management Inc. boosted its stake in Assurant by 5.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 3,662 shares of the financial services provider's stock worth $728,000 after buying an additional 196 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Assurant by 82.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,444 shares of the financial services provider's stock valued at $486,000 after buying an additional 1,101 shares during the period. Stevens Capital Management LP increased its stake in shares of Assurant by 23.0% during the 3rd quarter. Stevens Capital Management LP now owns 2,271 shares of the financial services provider's stock valued at $452,000 after acquiring an additional 424 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Assurant by 10.8% during the 3rd quarter. Quantinno Capital Management LP now owns 5,805 shares of the financial services provider's stock worth $1,155,000 after acquiring an additional 566 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Stock Down 0.5 %

NYSE:AIZ traded down $1.15 during trading hours on Friday, hitting $224.22. The stock had a trading volume of 247,749 shares, compared to its average volume of 424,311. The business has a 50 day simple moving average of $206.19 and a two-hundred day simple moving average of $188.06. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The company has a market cap of $11.50 billion, a PE ratio of 15.99 and a beta of 0.61.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.48. The business 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 business's revenue was up 7.0% on a year-over-year basis. During the same period last year, the business earned $4.29 EPS. Analysts predict that Assurant, Inc. will post 15.41 EPS for the current year.

Assurant Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Assurant's previous quarterly dividend of $0.72. Assurant's dividend payout ratio (DPR) is 20.54%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AIZ. Keefe, Bruyette & Woods boosted their price target on Assurant from $194.00 to $212.00 and gave the company a "market perform" rating in a research report on Tuesday, November 12th. Bank of America increased their target price 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. StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a research report on Thursday, October 17th. Piper Sandler increased their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Finally, Truist Financial raised their target price on shares of Assurant from $220.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $229.50.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the sale, the executive vice president now owns 20,658 shares in the company, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

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.