Assurant, Inc. (NYSE:AIZ) Shares Sold by Asset Management Group Inc.

Asset Management Group Inc. lessened its holdings in Assurant, Inc. (NYSE:AIZ) by 10.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,666 shares of the financial services provider’s stock after selling 408 shares during the quarter. Asset Management Group Inc.’s holdings in Assurant were worth $729,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its holdings in Assurant by 32.5% in the second quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after purchasing an additional 255,471 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Assurant by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock valued at $116,159,000 after acquiring an additional 12,935 shares during the period. TD Asset Management Inc boosted its holdings in shares of Assurant by 20.4% during the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after acquiring an additional 96,021 shares during the period. Mizuho Securities USA LLC boosted its holdings in shares of Assurant by 11,480.4% during the third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after acquiring an additional 460,937 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Assurant by 0.7% during the second quarter. Federated Hermes Inc. now owns 383,549 shares of the financial services provider’s stock valued at $63,765,000 after acquiring an additional 2,700 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Piper Sandler upped their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Bank of America upped their price objective on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.20.

Insiders Place Their Bets

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Assurant Price Performance

Shares of Assurant stock opened at $225.17 on Friday. 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’s 50-day moving average price is $199.45 and its two-hundred day moving average price is $184.02. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $225.47. The stock has a market cap of $11.55 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 2.18 and a beta of 0.57.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the business earned $4.29 earnings per share. Assurant’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Assurant, Inc. will post 15.05 EPS for the current fiscal year.

Assurant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, December 9th. This is an increase from Assurant’s previous quarterly dividend of $0.72. Assurant’s payout ratio is presently 20.54%.

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.