Assurant, Inc. (NYSE:AIZ) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its position in shares of Assurant, Inc. (NYSE:AIZ) by 65.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,260 shares of the financial services provider’s stock after selling 2,389 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Assurant were worth $251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AIZ. AQR Capital Management LLC raised its stake in shares of 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 last quarter. AMF Tjanstepension AB acquired a new position in shares of Assurant during the 1st quarter worth $39,013,000. TD Asset Management Inc raised its stake in shares of Assurant by 20.4% during the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock worth $94,118,000 after buying an additional 96,021 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Assurant by 151.7% during 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 buying an additional 86,448 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Assurant by 31.9% during the 1st quarter. Nordea Investment Management AB now owns 239,875 shares of the financial services provider’s stock worth $45,101,000 after buying an additional 57,990 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AIZ. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Piper Sandler boosted their target price on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. UBS Group boosted their target price on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Bank of America boosted their target price on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $214.60.

Insider Activity

In other news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at $717,329.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Assurant Trading Down 0.3 %

NYSE AIZ opened at $197.50 on Monday. Assurant, Inc. has a 12 month low of $144.61 and a 12 month high of $201.55. The company has a 50-day moving average of $193.24 and a 200-day moving average of $179.25. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $10.27 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.61 and a beta of 0.57.

Assurant (NYSE:AIZ) last posted its quarterly earnings data 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 net margin of 6.90% and a return on equity of 19.63%. The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company posted $3.89 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that Assurant, Inc. will post 16.54 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently disclosed 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 1.46%. The ex-dividend date was Tuesday, September 3rd. Assurant’s dividend payout ratio is currently 20.10%.

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.