Atria Investments Inc Sells 217 Shares of Assurant, Inc. (NYSE:AIZ)

Atria Investments Inc decreased its position in shares of Assurant, Inc. (NYSE:AIZ) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,355 shares of the financial services provider’s stock after selling 217 shares during the period. Atria Investments Inc’s holdings in Assurant were worth $502,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Cascade Investment Advisors Inc. increased its position in Assurant by 0.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider’s stock valued at $1,593,000 after acquiring an additional 50 shares during the last quarter. Pathstone Holdings LLC increased its position in Assurant by 0.5% during the third quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock valued at $2,006,000 after acquiring an additional 52 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 75 shares during the last quarter. CIBC Asset Management Inc increased its position in Assurant by 1.1% during the fourth quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider’s stock valued at $1,642,000 after acquiring an additional 84 shares during the last quarter. Finally, Richardson Financial Services Inc. increased its position in Assurant by 42.8% during the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 86 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Insider Activity

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

Assurant Stock Performance

Shares of Assurant stock opened at $211.44 on Friday. The company has a market capitalization of $10.74 billion, a PE ratio of 14.61 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. The company has a 50-day simple moving average of $207.93 and a two-hundred day simple moving average of $206.09. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping 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%. Research analysts expect that Assurant, Inc. will post 16.88 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 dividend of $0.80 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.51%. Assurant’s dividend payout ratio (DPR) is currently 22.11%.

Wall Street Analysts Forecast Growth

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

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.