Assurant, Inc. (NYSE:AIZ) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its position in shares of Assurant, Inc. (NYSE:AIZ) by 64.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 29,753 shares of the financial services provider’s stock after selling 54,515 shares during the quarter. Jane Street Group LLC’s holdings in Assurant were worth $5,917,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Kovitz Investment Group Partners LLC grew its holdings in Assurant by 82.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,444 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 1,101 shares during the period. Stevens Capital Management LP grew its stake in shares of Assurant by 23.0% in the 3rd quarter. Stevens Capital Management LP now owns 2,271 shares of the financial services provider’s stock worth $452,000 after purchasing an additional 424 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Assurant by 10.8% in the 3rd quarter. Quantinno Capital Management LP now owns 5,805 shares of the financial services provider’s stock worth $1,155,000 after purchasing an additional 566 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Assurant in the 3rd quarter worth approximately $1,004,000. Finally, Point72 Asset Management L.P. acquired a new stake in Assurant during the third quarter valued at approximately $26,630,000. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Up 0.1 %

Shares of Assurant stock opened at $217.83 on Monday. 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 $11.17 billion, a P/E ratio of 15.54 and a beta of 0.61. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $208.10 and a 200 day moving average price of $189.64.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm earned $4.29 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. As a group, analysts expect that Assurant, Inc. will post 15.38 EPS for the current fiscal year.

Assurant Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.47%. This is a positive change from Assurant’s previous quarterly dividend of $0.72. Assurant’s dividend payout ratio (DPR) is 22.82%.

Wall Street Analyst Weigh In

AIZ has been the topic of several research reports. Bank of America upped their price target on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Truist Financial upped their target price on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group lifted their price target on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Piper Sandler lifted their target price on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Assurant has a consensus rating of “Hold” and a consensus target price of $229.50.

Insider Activity

In other news, EVP Biju Nair sold 3,000 shares of Assurant 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 directly owns 20,658 shares in the company, valued at $4,321,240.44. The trade was a 12.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by corporate 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.