Zurcher Kantonalbank Zurich Cantonalbank Buys 2,753 Shares of Assurant, Inc. (NYSE:AIZ)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 12.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,776 shares of the financial services provider's stock after buying an additional 2,753 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of Assurant worth $5,126,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. SteelPeak Wealth LLC lifted its position in Assurant by 770.1% during the second quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider's stock valued at $2,170,000 after purchasing an additional 11,551 shares during the period. QRG Capital Management Inc. boosted its stake in shares of Assurant by 44.9% in the 2nd quarter. QRG Capital Management Inc. now owns 12,614 shares of the financial services provider's stock worth $2,097,000 after buying an additional 3,909 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Assurant by 443.7% in the first quarter. Cetera Investment Advisers now owns 12,973 shares of the financial services provider's stock worth $2,442,000 after acquiring an additional 10,587 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Assurant by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 159,880 shares of the financial services provider's stock valued at $31,794,000 after acquiring an additional 6,756 shares during the period. Finally, Mount Lucas Management LP boosted its position in Assurant by 102.2% in the second quarter. Mount Lucas Management LP now owns 24,786 shares of the financial services provider's stock worth $4,121,000 after purchasing an additional 12,529 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Insider Activity

In related news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction on 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. The trade was a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.

Assurant Price Performance

Shares of Assurant stock traded up $1.61 during trading hours on Tuesday, hitting $227.34. The company's stock had a trading volume of 371,144 shares, compared to its average volume of 354,181. The company has a market cap of $11.66 billion, a PE ratio of 16.10 and a beta of 0.61. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The business has a 50 day moving average price of $204.02 and a two-hundred day moving average price of $186.56. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the company posted $4.29 EPS. The firm's revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts expect that Assurant, Inc. will post 15.41 earnings per share for the current fiscal year.

Assurant Increases Dividend

The company also recently disclosed 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. This is a positive change from Assurant's previous quarterly dividend of $0.72. 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 1.41%. Assurant's dividend payout ratio (DPR) is presently 20.54%.

Analysts Set New Price Targets

AIZ has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of 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 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. StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a research note on Thursday, October 17th. Truist Financial lifted their target price on Assurant from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Finally, Piper Sandler upped their price target on Assurant from $200.00 to $217.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Assurant presently has an average rating of "Moderate Buy" and a consensus target price of $225.20.

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.