Allspring Global Investments Holdings LLC Boosts Position in Assurant, Inc. (NYSE:AIZ)

Allspring Global Investments Holdings LLC grew its holdings in shares of Assurant, Inc. (NYSE:AIZ – Get Rating) by 31.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,979 shares of the financial services provider’s stock after buying an additional 3,356 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Assurant were worth $2,030,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Truist Financial Corp increased its stake in shares of Assurant by 2.9% during the third quarter. Truist Financial Corp now owns 5,604 shares of the financial services provider’s stock valued at $814,000 after buying an additional 156 shares during the period. Wipfli Financial Advisors LLC purchased a new position in shares of Assurant during the third quarter valued at approximately $968,000. Janney Montgomery Scott LLC grew its stake in Assurant by 9.0% in the third quarter. Janney Montgomery Scott LLC now owns 5,034 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 417 shares during the period. Fifth Third Bancorp grew its stake in Assurant by 19.4% in the third quarter. Fifth Third Bancorp now owns 905 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 147 shares during the period. Finally, Texas Permanent School Fund grew its stake in Assurant by 5.4% in the third quarter. Texas Permanent School Fund now owns 7,529 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 386 shares during the period. 95.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods cut Assurant from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $199.00 to $151.00 in a research note on Thursday, November 3rd. StockNews.com began coverage on Assurant in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Truist Financial cut their target price on Assurant from $220.00 to $170.00 in a research note on Wednesday, October 26th. Piper Sandler cut their target price on Assurant from $144.00 to $133.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 20th. Finally, Morgan Stanley lowered their price target on Assurant from $215.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, November 21st. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $154.75.

Assurant Stock Down 1.0 %

AIZ stock opened at $125.86 on Friday. Assurant, Inc. has a fifty-two week low of $119.01 and a fifty-two week high of $194.12. The business’s 50-day moving average is $126.60 and its two-hundred day moving average is $146.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 21.63, a P/E/G ratio of 0.82 and a beta of 0.50.

Assurant (NYSE:AIZ – Get Rating) last posted its earnings results on Tuesday, November 1st. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Assurant had a return on equity of 12.00% and a net margin of 3.25%. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.62 billion. As a group, analysts forecast that Assurant, Inc. will post 10.52 earnings per share for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Monday, February 27th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.22%. Assurant’s dividend payout ratio (DPR) is presently 48.11%.

Assurant Profile

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Assurant, Inc is a global provider of lifestyle and housing solutions that support, protect, and connect major consumer purchases. It operates through the following segments: Global Lifestyle, Global Housing, and Corporate and Other. 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.