PNC Financial Services Group Inc. Sells 167 Shares of Assurant, Inc. (NYSE:AIZ)

PNC Financial Services Group Inc. lessened its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,753 shares of the financial services provider’s stock after selling 167 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Assurant were worth $1,138,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new stake in shares of Assurant during the fourth quarter valued at approximately $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Assurant in the 4th quarter worth $40,000. Assetmark Inc. bought a new position in shares of Assurant during the 4th quarter valued at about $44,000. Parkside Financial Bank & Trust grew its position in shares of Assurant by 52.0% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. Finally, Global Retirement Partners LLC grew its position in shares of Assurant by 839.4% during the fourth quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 277 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Stock Down 0.5 %

Shares of NYSE:AIZ opened at $168.74 on Monday. The company has a 50-day moving average price of $172.58 and a 200 day moving average price of $173.15. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42. Assurant, Inc. has a 12 month low of $121.51 and a 12 month high of $189.48. The company has a market cap of $8.77 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.69 and a beta of 0.56.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.91. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. As a group, equities research analysts predict that Assurant, Inc. will post 16.2 earnings per share for the current year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Monday, June 10th. Assurant’s payout ratio is 20.10%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AIZ shares. Piper Sandler increased their price target on Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods increased their target price on Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.25.

Insider Buying and Selling at Assurant

In other news, insider Robert Lonergan sold 2,700 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $176.12, for a total value of $475,524.00. Following the completion of the sale, the insider now owns 19,786 shares in the company, valued at approximately $3,484,710.32. The transaction 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 company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $173.35, for a total value of $226,048.40. Following the transaction, the executive vice president now owns 24,586 shares of the company’s stock, valued at approximately $4,261,983.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Lonergan sold 2,700 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.12, for a total value of $475,524.00. Following the completion of the sale, the insider now owns 19,786 shares in the company, valued at approximately $3,484,710.32. The disclosure for this sale can be found here. Insiders have sold 12,788 shares of company stock worth $2,248,489 over the last quarter. Insiders own 0.53% of the company’s stock.

Assurant Company 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.