Crossmark Global Holdings Inc. Reduces Holdings in Assurant, Inc. (NYSE:AIZ)

Crossmark Global Holdings Inc. cut its stake in Assurant, Inc. (NYSE:AIZ) by 10.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,887 shares of the financial services provider’s stock after selling 335 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Assurant were worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. True Wealth Design LLC purchased a new stake in shares of Assurant in the 3rd quarter valued at about $25,000. Huntington National Bank boosted its holdings in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the period. Brooklyn Investment Group purchased a new position in shares of Assurant during the third quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new position in shares of Assurant in the 3rd quarter valued at $56,000. Finally, Intact Investment Management Inc. purchased a new stake in Assurant in the 3rd quarter valued at $72,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insider Buying and Selling

In other news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on 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 transaction, the executive vice president now owns 20,658 shares of the company’s stock, valued at $4,321,240.44. The trade was a 12.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on AIZ shares. Piper Sandler lifted their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley initiated coverage on Assurant in a research note on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price objective for the company. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods upped their price target on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Finally, Bank of America lifted their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Four 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 data from MarketBeat, Assurant presently has a consensus rating of “Hold” and an average price target of $229.50.

Assurant Stock Up 1.8 %

Assurant stock opened at $211.09 on Friday. The stock’s 50 day moving average price is $215.33 and its 200 day moving average price is $198.44. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a market cap of $10.83 billion, a PE ratio of 15.06 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the company posted $4.29 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that Assurant, Inc. will post 15.38 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be given a dividend of $0.80 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.52%. Assurant’s payout ratio is 22.82%.

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.