Allspring Global Investments Holdings LLC Grows Position in Assurant, Inc. (NYSE:AIZ)

Allspring Global Investments Holdings LLC raised its position in Assurant, Inc. (NYSE:AIZ) by 121.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,203 shares of the financial services provider’s stock after acquiring an additional 4,507 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Assurant were worth $1,544,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Assurant in the fourth quarter valued at approximately $108,253,000. AMF Tjanstepension AB acquired a new position in shares of Assurant in the 1st quarter valued at $39,013,000. Gillson Capital LP purchased a new position in shares of Assurant in the 4th quarter valued at $27,013,000. Northern Trust Corp grew its position in shares of Assurant by 23.4% in the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock valued at $124,194,000 after buying an additional 139,680 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Assurant by 279.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 179,663 shares of the financial services provider’s stock worth $30,271,000 after acquiring an additional 132,275 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analyst Upgrades and Downgrades

AIZ has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Assurant in a report on Friday, June 28th. Keefe, Bruyette & Woods raised their price target on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.25.

Assurant Stock Performance

NYSE:AIZ opened at $163.93 on Friday. The firm has a market cap of $8.52 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.65 and a beta of 0.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39. Assurant, Inc. has a 1-year low of $122.42 and a 1-year high of $189.48. The firm’s fifty day moving average price is $171.28 and its 200 day moving average price is $173.00.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, beating 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 company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. On average, sell-side analysts expect that Assurant, Inc. will post 16.2 EPS for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.76%. Assurant’s dividend payout ratio (DPR) is presently 20.10%.

Insider Activity

In other Assurant news, insider Robert Lonergan sold 2,700 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $176.12, for a total transaction of $475,524.00. Following the transaction, the insider now directly owns 19,786 shares in the company, valued at $3,484,710.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Assurant news, insider Robert Lonergan sold 2,700 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.12, for a total transaction of $475,524.00. Following the sale, the insider now directly owns 19,786 shares in the company, valued at $3,484,710.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael P. Campbell sold 1,304 shares of Assurant stock in a transaction 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 directly owns 24,586 shares of the company’s stock, valued at approximately $4,261,983.10. The disclosure for this sale can be found here. Insiders sold 12,788 shares of company stock worth $2,248,489 in the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

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.