Glenmede Trust Co. NA Buys Shares of 1,150 Assurant, Inc. (NYSE:AIZ)

Glenmede Trust Co. NA purchased a new position in shares of Assurant, Inc. (NYSE:AIZ) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,150 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other hedge funds have also recently modified their holdings of AIZ. Innealta Capital LLC acquired a new stake in shares of Assurant in the 2nd quarter worth $31,000. Huntington National Bank lifted its position in 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 purchasing an additional 163 shares during the period. Richardson Financial Services Inc. boosted its holdings in 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 purchasing an additional 77 shares in the last quarter. Brooklyn Investment Group acquired a new position in Assurant during the 3rd quarter worth approximately $42,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Assurant during the 3rd quarter worth approximately $56,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AIZ shares. UBS Group lifted their price target on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods increased their price target on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Piper Sandler raised 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. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Bank of America lifted their price target 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $229.50.

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 on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares in the company, valued at approximately $4,321,240.44. The trade was a 12.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by insiders.

Assurant Stock Up 0.4 %

Shares of NYSE AIZ opened at $225.26 on Friday. The firm’s 50-day moving average is $205.70 and its two-hundred day moving average is $187.45. The company has a market capitalization of $11.55 billion, a PE ratio of 16.07 and a beta of 0.61. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. 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 announced its earnings results 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. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the firm earned $4.29 EPS. Assurant’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts anticipate that Assurant, Inc. will post 15.41 EPS for the current fiscal year.

Assurant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $0.80 dividend. This is an increase from Assurant’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.20 annualized dividend and a yield of 1.42%. Assurant’s payout ratio is presently 20.54%.

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.