Zurcher Kantonalbank Zurich Cantonalbank Acquires 14,771 Shares of Assurant, Inc. (NYSE:AIZ)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 57.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,547 shares of the financial services provider's stock after acquiring an additional 14,771 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Assurant worth $8,645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of AIZ. Bank of New York Mellon Corp raised its position in Assurant by 36.7% during the fourth 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 acquiring an additional 891,292 shares in the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Assurant by 11,480.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider's stock worth $92,460,000 after buying an additional 460,937 shares during the period. World Investment Advisors LLC bought a new position in Assurant in the 3rd quarter worth $48,430,000. Point72 Asset Management L.P. acquired a new position in Assurant during the 3rd quarter worth $26,630,000. Finally, Amundi boosted its holdings in Assurant by 45.0% during the fourth 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 period. Hedge funds and other institutional investors own 92.65% of the company's stock.

Assurant Price Performance

Shares of Assurant stock traded up $3.47 during midday trading on Monday, hitting $214.67. 354,615 shares of the company were exchanged, compared to its average volume of 345,229. The firm has a 50 day simple moving average of $207.93 and a 200-day simple moving average of $206.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The firm has a market cap of $10.90 billion, a P/E ratio of 14.84 and a beta of 0.61. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55.

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Assurant (NYSE:AIZ - Get Free Report) last issued its 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%. Research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Monday, February 3rd. Assurant's dividend payout ratio (DPR) is currently 22.11%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 17,708 shares of the company's stock, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is owned by company 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.