Assenagon Asset Management S.A. Sells 90,547 Shares of Assurant, Inc. (NYSE:AIZ)

Assenagon Asset Management S.A. cut its stake in Assurant, Inc. (NYSE:AIZ) by 77.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,532 shares of the financial services provider’s stock after selling 90,547 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Assurant worth $5,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pathstone Holdings LLC grew its position in shares of Assurant by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock valued at $2,006,000 after purchasing an additional 52 shares during the period. US Bancorp DE grew its position in shares of Assurant by 7.2% in the 3rd quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 56 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Assurant by 1.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 78 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Assurant by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,615 shares of the financial services provider’s stock valued at $1,514,000 after purchasing an additional 79 shares during the period. Finally, Pittenger & Anderson Inc. grew its position in shares of Assurant by 0.3% in the 3rd quarter. Pittenger & Anderson Inc. now owns 26,260 shares of the financial services provider’s stock valued at $5,222,000 after purchasing an additional 80 shares during the period. 92.65% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Biju Nair sold 3,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the sale, the executive vice president now owns 20,658 shares in the company, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

Assurant Trading Down 0.1 %

NYSE:AIZ opened at $211.39 on Tuesday. The company has a market cap of $10.84 billion, a P/E ratio of 15.08 and a beta of 0.62. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The business has a 50 day moving average price of $215.82 and a two-hundred day moving average price of $197.37.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.52 by $0.48. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.29 EPS. As a group, analysts expect that Assurant, Inc. will post 15.38 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, February 3rd. Assurant’s payout ratio is presently 22.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AIZ shares. Truist Financial boosted their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler boosted their price objective on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. UBS Group boosted their price objective on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley assumed coverage on Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $229.50.

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.