Intech Investment Management LLC Sells 30,376 Shares of Assurant, Inc. (NYSE:AIZ)

Intech Investment Management LLC reduced its stake in shares of Assurant, Inc. (NYSE:AIZ) by 41.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 43,622 shares of the financial services provider’s stock after selling 30,376 shares during the period. Intech Investment Management LLC’s holdings in Assurant were worth $9,301,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cascade Investment Advisors Inc. grew its holdings in Assurant by 0.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider’s stock worth $1,593,000 after buying an additional 50 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in Assurant by 0.5% during the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock worth $2,006,000 after acquiring an additional 52 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Assurant by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 75 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Assurant by 1.1% in the fourth quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider’s stock valued at $1,642,000 after purchasing an additional 84 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Assurant by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 364 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 84 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Stock Performance

NYSE:AIZ opened at $212.43 on Wednesday. The company has a market capitalization of $10.79 billion, a P/E ratio of 14.68 and a beta of 0.61. The business has a fifty day simple moving average of $208.19 and a two-hundred day simple moving average of $206.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings results 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 return on equity of 17.25% and a net margin of 6.40%. On average, analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The firm 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 $0.80 dividend. 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 equities research analysts have issued reports on AIZ shares. Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. Morgan Stanley assumed coverage on Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 target price for the company. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Truist Financial upped 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and an average target price of $234.17.

Insider Activity at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the sale, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.