Tredje AP fonden Cuts Stock Position in Assurant, Inc. (NYSE:AIZ)

Tredje AP fonden decreased its position in shares of Assurant, Inc. (NYSE:AIZ) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,266 shares of the financial services provider’s stock after selling 129 shares during the period. Tredje AP fonden’s holdings in Assurant were worth $1,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Innealta Capital LLC purchased a new position in Assurant during the 2nd quarter worth $31,000. Assetmark Inc. acquired a new position in shares of Assurant during the fourth quarter valued at about $44,000. Quarry LP purchased a new position in shares of Assurant in the 4th quarter valued at approximately $51,000. Family Firm Inc. acquired a new stake in Assurant in the 2nd quarter worth approximately $51,000. Finally, Blue Trust Inc. grew its position in Assurant by 40.1% during the 2nd quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 101 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on AIZ. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Bank of America dropped their price target on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Keefe, Bruyette & Woods raised their price objective on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Piper Sandler lowered Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research report on Thursday, August 22nd. Finally, UBS Group raised their price target on shares of Assurant from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and an average target price of $207.60.

Assurant Stock Up 0.1 %

Assurant stock opened at $194.27 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. Assurant, Inc. has a 52 week low of $141.30 and a 52 week high of $199.50. The business’s 50-day moving average price is $183.77 and its 200 day moving average price is $177.39. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.50. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.89 EPS. As a group, sell-side analysts anticipate that Assurant, Inc. will post 16.54 earnings per share for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.48%. The ex-dividend date is Tuesday, September 3rd. Assurant’s payout ratio is 20.10%.

Insider Activity

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was 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 owns 4,027 shares of the company’s stock, valued at $717,329.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 value of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

About Assurant

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.