Assurant, Inc. (NYSE:AIZ) Holdings Boosted by Truist Financial Corp

Truist Financial Corp boosted its position in shares of Assurant, Inc. (NYSE:AIZ) by 234.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,995 shares of the financial services provider’s stock after purchasing an additional 8,413 shares during the period. Truist Financial Corp’s holdings in Assurant were worth $2,558,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of Assurant during the 3rd quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Assurant in the 4th quarter valued at $28,000. Huntington National Bank lifted its stake in shares of Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 163 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Assurant in the 3rd quarter valued at $42,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Assurant in the 3rd quarter valued at $56,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Assurant news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the sale, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This represents a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Assurant Stock Performance

NYSE AIZ opened at $206.84 on Wednesday. The stock has a market cap of $10.51 billion, a P/E ratio of 14.29 and a beta of 0.62. The company’s 50-day simple moving average is $209.78 and its 200 day simple moving average is $204.37. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. As a group, research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.55%. Assurant’s dividend payout ratio is 22.11%.

Analysts Set New Price Targets

AIZ has been the subject of several analyst reports. Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $212.00 to $230.00 in a research note on Thursday, February 20th. Truist Financial boosted their target price on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 target price for the company. Finally, StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Assurant currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.17.

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.