Tredje AP fonden Reduces Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Tredje AP fonden reduced its position in Assurant, Inc. (NYSE:AIZ) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,133 shares of the financial services provider’s stock after selling 4,133 shares during the quarter. Tredje AP fonden’s holdings in Assurant were worth $881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in AIZ. True Wealth Design LLC purchased a new stake in Assurant in the 3rd quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Assurant during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC increased its stake in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 103 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Assurant by 509.4% during 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 in the last quarter. 92.65% of the stock is currently owned by institutional investors.

Assurant Price Performance

Assurant stock opened at $211.44 on Friday. The business has a 50-day simple moving average of $207.93 and a 200 day simple moving average of $206.09. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 14.61 and a beta of 0.61. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. On average, research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed 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. This represents a $3.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s dividend payout ratio (DPR) is currently 22.11%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AIZ shares. Morgan Stanley started coverage on shares of Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price objective for the company. Keefe, Bruyette & Woods upgraded Assurant from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $212.00 to $230.00 in a research report on Thursday, February 20th. Truist Financial boosted their price objective on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $234.17.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares of the company’s stock, valued at $3,568,162. This represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is currently owned by 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.