Intech Investment Management LLC Sells 1,449 Shares of Assurant, Inc. (NYSE:AIZ)

Intech Investment Management LLC cut its holdings in Assurant, Inc. (NYSE:AIZ) by 2.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 66,711 shares of the financial services provider’s stock after selling 1,449 shares during the period. Intech Investment Management LLC’s holdings in Assurant were worth $12,558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blair William & Co. IL increased its position in Assurant by 0.6% in the 1st quarter. Blair William & Co. IL now owns 17,297 shares of the financial services provider’s stock valued at $3,256,000 after buying an additional 100 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in Assurant in the 1st quarter valued at about $1,778,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Assurant by 12.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60,372 shares of the financial services provider’s stock valued at $11,364,000 after buying an additional 6,621 shares in the last quarter. TD Asset Management Inc increased its position in Assurant by 7.8% in the 1st quarter. TD Asset Management Inc now owns 470,102 shares of the financial services provider’s stock valued at $88,492,000 after buying an additional 34,070 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Assurant by 151.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 143,425 shares of the financial services provider’s stock valued at $26,998,000 after buying an additional 86,448 shares in the last quarter. 92.65% of the stock is owned by institutional investors.

Assurant Stock Down 1.5 %

AIZ stock traded down $2.53 during mid-day trading on Friday, reaching $169.79. 386,728 shares of the company traded hands, compared to its average volume of 348,277. Assurant, Inc. has a fifty-two week low of $127.22 and a fifty-two week high of $189.48. The firm’s 50 day moving average price is $169.28 and its 200 day moving average price is $173.07. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.67 and a beta of 0.54. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.91. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. As a group, equities research analysts predict that Assurant, Inc. will post 16.14 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were paid a $0.72 dividend. The ex-dividend date was Monday, June 10th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.70%. Assurant’s payout ratio is presently 20.10%.

Wall Street Analysts Forecast Growth

AIZ has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $205.00 target price on shares of Assurant in a research report on Friday, June 28th. Keefe, Bruyette & Woods lifted their price target on Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research note on Wednesday, May 15th. Finally, Bank of America cut their price target on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $204.60.

Insider Transactions at Assurant

In other news, EVP Michael P. Campbell sold 1,304 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $173.35, for a total value of $226,048.40. Following the transaction, the executive vice president now owns 24,586 shares in the company, valued at approximately $4,261,983.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.36, for a total value of $1,181,612.00. Following the sale, the chief operating officer now owns 10,748 shares of the company’s stock, valued at approximately $1,895,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael P. Campbell sold 1,304 shares of Assurant stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $173.35, for a total transaction of $226,048.40. Following the completion of the sale, the executive vice president now directly owns 24,586 shares in the company, valued at approximately $4,261,983.10. The disclosure for this sale can be found here. Insiders have sold 12,788 shares of company stock worth $2,248,489 in the last 90 days. Insiders own 0.53% of the company’s stock.

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.