abrdn plc Acquires 17,357 Shares of Assurant, Inc. (NYSE:AIZ)

abrdn plc lifted its stake in shares of Assurant, Inc. (NYSE:AIZ) by 149.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,982 shares of the financial services provider’s stock after buying an additional 17,357 shares during the quarter. abrdn plc’s holdings in Assurant were worth $5,729,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Assurant by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after buying an additional 255,471 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Assurant during the third quarter worth approximately $284,730,000. TD Asset Management Inc raised its position in shares of Assurant by 20.4% during the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock worth $94,118,000 after purchasing an additional 96,021 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Assurant by 151.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 143,425 shares of the financial services provider’s stock worth $26,998,000 after purchasing an additional 86,448 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Assurant by 31.9% in the 1st quarter. Nordea Investment Management AB now owns 239,875 shares of the financial services provider’s stock valued at $45,101,000 after purchasing an additional 57,990 shares during the period. Institutional investors own 92.65% of the company’s stock.

Insider Buying and Selling

In related news, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $717,329.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AIZ has been the topic of a number of recent research reports. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Bank of America raised their price target on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group boosted their price objective on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Piper Sandler raised their target price on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upped their price target on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $217.00.

Assurant Trading Up 0.0 %

Shares of AIZ stock opened at $191.76 on Monday. Assurant, Inc. has a 52-week low of $158.29 and a 52-week high of $201.55. The company has a 50-day simple moving average of $194.50 and a two-hundred day simple moving average of $180.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.97 and a beta of 0.57.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business posted $3.89 earnings per share. Assurant’s revenue was up 7.1% on a year-over-year basis. Research analysts anticipate that Assurant, Inc. will post 14.58 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Tuesday, September 3rd. Assurant’s payout ratio is 19.19%.

Assurant 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.