Assurant, Inc. (NYSE:AIZ) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its stake in shares of Assurant, Inc. (NYSE:AIZ) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,341 shares of the financial services provider’s stock after selling 202 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Assurant were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in shares of Assurant in the 2nd quarter valued at approximately $31,000. Huntington National Bank lifted its holdings in shares of Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after buying an additional 163 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Assurant by 62.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Assurant in the 3rd quarter valued at approximately $56,000. Finally, Family Firm Inc. acquired a new stake in shares of Assurant in the 2nd quarter valued at approximately $51,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Assurant

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 completion of the sale, the executive vice president now owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by company insiders.

Assurant Stock Performance

Assurant stock opened at $227.10 on Friday. The company has a market capitalization of $11.65 billion, a price-to-earnings ratio of 16.20 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The stock has a fifty day moving average of $203.46 and a two-hundred day moving average of $186.07.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.29 earnings per share. On average, analysts anticipate that Assurant, Inc. will post 15.41 EPS for the current fiscal year.

Assurant Increases Dividend

The firm 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 $0.80 dividend. The ex-dividend date is Monday, December 9th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from Assurant’s previous quarterly dividend of $0.72. Assurant’s payout ratio is currently 22.82%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIZ. Keefe, Bruyette & Woods lifted their price objective on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. UBS Group lifted their price objective on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Piper Sandler lifted their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Bank of America lifted their price objective on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $225.20.

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.