Assurant, Inc. (NYSE:AIZ) Position Reduced by Toronto Dominion Bank

Toronto Dominion Bank trimmed its position in Assurant, Inc. (NYSE:AIZ) by 19.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,539 shares of the financial services provider’s stock after selling 5,982 shares during the quarter. Toronto Dominion Bank’s holdings in Assurant were worth $4,246,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Leuthold Group LLC purchased a new position in Assurant during the 1st quarter valued at about $3,730,000. QRG Capital Management Inc. increased its stake in Assurant by 210.7% in the 1st quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock valued at $1,639,000 after buying an additional 5,903 shares during the period. GSA Capital Partners LLP purchased a new stake in Assurant in the 1st quarter worth approximately $1,213,000. SteelPeak Wealth LLC boosted its stake in shares of Assurant by 770.1% during the 2nd quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock valued at $2,170,000 after buying an additional 11,551 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Assurant by 3.0% during the first quarter. Los Angeles Capital Management LLC now owns 249,152 shares of the financial services provider’s stock worth $46,900,000 after acquiring an additional 7,150 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AIZ shares. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. UBS Group boosted their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Piper Sandler downgraded shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a report on Thursday, August 22nd. Bank of America reduced their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.00.

Assurant Stock Performance

NYSE:AIZ opened at $199.95 on Monday. The firm has a market capitalization of $10.39 billion, a PE ratio of 13.95, a PEG ratio of 1.68 and a beta of 0.57. Assurant, Inc. has a 1 year low of $141.83 and a 1 year high of $201.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm’s fifty day simple moving average is $186.48 and its 200 day simple moving average is $178.04.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business posted $3.89 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.44%. Assurant’s payout ratio is currently 20.10%.

Insider Activity

In related news, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at $717,329.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate 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.