Assurant, Inc. (NYSE:AIZ) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in Assurant, Inc. (NYSE:AIZFree Report) by 12.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 406,128 shares of the financial services provider’s stock after selling 55,326 shares during the period. First Trust Advisors LP owned about 0.77% of Assurant worth $68,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of AIZ. Norges Bank acquired a new position in Assurant during the 4th quarter worth about $108,253,000. FMR LLC increased its stake in Assurant by 7.5% during the third quarter. FMR LLC now owns 2,748,162 shares of the financial services provider’s stock worth $394,581,000 after purchasing an additional 191,750 shares during the period. Federated Hermes Inc. lifted its position in shares of Assurant by 75.1% during the third quarter. Federated Hermes Inc. now owns 376,975 shares of the financial services provider’s stock worth $54,126,000 after purchasing an additional 161,671 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Assurant by 279.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 179,663 shares of the financial services provider’s stock valued at $30,271,000 after purchasing an additional 132,275 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Assurant by 120.5% during the 3rd quarter. Nordea Investment Management AB now owns 168,490 shares of the financial services provider’s stock worth $24,397,000 after buying an additional 92,083 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIZ has been the subject of several research reports. UBS Group boosted their price target on shares of Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Piper Sandler boosted their target price on Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Keefe, Bruyette & Woods lifted their price objective on Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.25.

Check Out Our Latest Report on AIZ

Insider Activity

In related news, EVP Michael P. Campbell sold 1,304 shares of Assurant stock in a transaction on Monday, May 20th. The shares were sold at an average price of $173.35, for a total transaction of $226,048.40. Following the sale, the executive vice president now directly owns 24,586 shares in the company, valued at approximately $4,261,983.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Assurant news, EVP Michael P. Campbell sold 1,304 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $173.35, for a total transaction of $226,048.40. Following the transaction, the executive vice president now owns 24,586 shares of the company’s stock, valued at $4,261,983.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Dimitry Dirienzo sold 2,084 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $175.29, for a total value of $365,304.36. Following the completion of the sale, the chief accounting officer now directly owns 3,702 shares of the company’s stock, valued at $648,923.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,788 shares of company stock worth $2,248,489. Corporate insiders own 0.53% of the company’s stock.

Assurant Stock Performance

Shares of AIZ stock opened at $172.54 on Friday. Assurant, Inc. has a 12 month low of $121.51 and a 12 month high of $189.48. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42. The company has a market cap of $8.97 billion, a P/E ratio of 12.04, a PEG ratio of 1.71 and a beta of 0.56. The firm has a fifty day moving average price of $175.20 and a 200 day moving average price of $172.86.

Assurant (NYSE:AIZGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.91. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. Sell-side analysts predict that Assurant, Inc. will post 16.21 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.88 annualized dividend and a dividend yield of 1.67%. Assurant’s dividend payout ratio is presently 20.10%.

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 contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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