abrdn plc Sells 14,979 Shares of Assurant, Inc. (NYSE:AIZ)

abrdn plc cut its holdings in Assurant, Inc. (NYSE:AIZGet Rating) by 51.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,124 shares of the financial services provider’s stock after selling 14,979 shares during the quarter. abrdn plc’s holdings in Assurant were worth $2,597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its holdings in Assurant by 42.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,254 shares of the financial services provider’s stock worth $663,000 after purchasing an additional 1,263 shares during the period. Bessemer Group Inc. raised its holdings in Assurant by 302.9% in the fourth quarter. Bessemer Group Inc. now owns 2,365 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 1,778 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in Assurant in the fourth quarter worth $3,065,000. Commonwealth Equity Services LLC raised its holdings in Assurant by 6.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,020 shares of the financial services provider’s stock worth $314,000 after purchasing an additional 115 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its holdings in Assurant by 8.0% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 2,837 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 209 shares during the period. 91.36% of the stock is owned by institutional investors.

Assurant Trading Up 2.1 %

Shares of NYSE:AIZ opened at $175.78 on Monday. Assurant, Inc. has a 12 month low of $144.18 and a 12 month high of $194.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $174.37 and its 200 day simple moving average is $173.38. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 0.77 and a beta of 0.55.

Assurant (NYSE:AIZGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.89. Assurant had a net margin of 13.23% and a return on equity of 11.23%. The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same period last year, the business posted $2.47 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Assurant, Inc. will post 12.91 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Tuesday, May 31st were paid a $0.68 dividend. The ex-dividend date was Friday, May 27th. This represents a $2.72 annualized dividend and a yield of 1.55%. Assurant’s payout ratio is currently 11.89%.

Analyst Ratings Changes

AIZ has been the topic of several analyst reports. Piper Sandler lowered shares of Assurant from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $205.00 to $185.00 in a report on Friday, June 24th. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Saturday, July 9th.

About Assurant

(Get Rating)

Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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