Hsbc Holdings PLC Buys 11,427 Shares of Assurant, Inc. (NYSE:AIZ)

Hsbc Holdings PLC lifted its stake in shares of Assurant, Inc. (NYSE:AIZ) by 9.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,984 shares of the financial services provider’s stock after purchasing an additional 11,427 shares during the quarter. Hsbc Holdings PLC owned 0.26% of Assurant worth $22,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC acquired a new stake in Assurant in the second quarter valued at approximately $31,000. Assetmark Inc. bought a new position in shares of Assurant in the 4th quarter valued at $44,000. Quarry LP acquired a new stake in shares of Assurant during the 4th quarter valued at $51,000. Family Firm Inc. bought a new stake in Assurant during the 2nd quarter worth $51,000. Finally, Blue Trust Inc. increased its holdings in Assurant by 40.1% in 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 in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Trading Up 0.1 %

NYSE:AIZ opened at $194.27 on Friday. Assurant, Inc. has a 52 week low of $141.30 and a 52 week high of $199.50. The firm’s fifty day moving average is $183.77 and its 200-day moving average is $177.38. The firm has a market cap of $10.10 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.60 and a beta of 0.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping 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 firm 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 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. Equities analysts expect that Assurant, Inc. will post 16.54 earnings per share for the current year.

Assurant Dividend Announcement

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

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts have recently weighed in on AIZ shares. Keefe, Bruyette & Woods boosted 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. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Piper Sandler lowered shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a report on Thursday, August 22nd. Bank of America reduced their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, UBS Group raised their target price on 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 given a buy rating to the company. According to data from MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and a consensus price target of $207.60.

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.