Banque Cantonale Vaudoise Lowers Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Banque Cantonale Vaudoise trimmed its holdings in Assurant, Inc. (NYSE:AIZFree Report) by 56.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 703 shares of the financial services provider’s stock after selling 893 shares during the period. Banque Cantonale Vaudoise’s holdings in Assurant were worth $101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Harvest Fund Management Co. Ltd boosted its stake in Assurant by 104.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock worth $26,000 after buying an additional 91 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Assurant by 353.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the last quarter. Covestor Ltd boosted its position in shares of Assurant by 229.9% during the 2nd quarter. Covestor Ltd now owns 254 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 177 shares during the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of Assurant in the second quarter valued at about $32,000. Finally, State of Wyoming acquired a new stake in Assurant during the fourth quarter worth about $32,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIZ has been the subject of several analyst reports. UBS Group increased their price target on shares of Assurant from $166.00 to $191.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Piper Sandler raised their target price on Assurant from $185.00 to $192.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Finally, Truist Financial upped their price target on Assurant from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $160.80.

Check Out Our Latest Stock Analysis on AIZ

Insider Activity at Assurant

In other Assurant news, EVP Jay Rosenblum sold 2,000 shares of Assurant stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $162.16, for a total value of $324,320.00. Following the completion of the transaction, the executive vice president now directly owns 7,567 shares of the company’s stock, valued at approximately $1,227,064.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Jay Rosenblum sold 2,000 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $162.16, for a total transaction of $324,320.00. Following the sale, the executive vice president now owns 7,567 shares of the company’s stock, valued at $1,227,064.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 850 shares of Assurant stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $160.72, for a total transaction of $136,612.00. Following the completion of the transaction, the chief accounting officer now owns 4,654 shares of the company’s stock, valued at approximately $747,990.88. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Assurant Stock Performance

NYSE:AIZ opened at $174.49 on Friday. The stock has a market capitalization of $9.18 billion, a P/E ratio of 14.57, a PEG ratio of 2.23 and a beta of 0.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.42 and a current ratio of 0.62. Assurant, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $179.41. The company has a 50 day moving average price of $168.03 and a 200 day moving average price of $154.81.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Stockholders of record on Monday, February 5th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.65%. Assurant’s payout ratio is presently 24.04%.

Assurant announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 9th that authorizes the company to repurchase $600.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Assurant Company Profile

(Free Report)

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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.

See Also

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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