Truist Financial Corp Sells 4,004 Shares of Assurant, Inc. (NYSE:AIZ)

Truist Financial Corp lowered its position in Assurant, Inc. (NYSE:AIZ) by 48.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,182 shares of the financial services provider’s stock after selling 4,004 shares during the period. Truist Financial Corp’s holdings in Assurant were worth $695,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AIZ. AQR Capital Management LLC increased its position in shares of Assurant by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock valued at $173,179,000 after buying an additional 255,471 shares in the last quarter. AMF Tjanstepension AB bought a new stake in shares of Assurant in the 1st quarter valued at $39,013,000. TD Asset Management Inc increased its holdings in 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 purchasing an additional 96,021 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in 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 purchasing an additional 86,448 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in 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 purchasing an additional 57,990 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Insider Activity at Assurant

In other Assurant 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 directly owns 4,027 shares in the company, valued at $717,329.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 directly owns 3,152 shares in the company, valued at $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AIZ has been the subject of a number of research reports. Piper Sandler increased their target price on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods increased their target price on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Bank of America increased their target price on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group increased their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $214.60.

Assurant Trading Up 1.0 %

Assurant stock opened at $194.74 on Wednesday. The firm has a 50-day moving average of $191.75 and a 200-day moving average of $179.01. Assurant, Inc. has a one year low of $144.61 and a one year high of $201.55. 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 $10.12 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.61 and a beta of 0.57.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The business 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. Assurant’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Assurant, Inc. will post 16.54 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a $0.72 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a yield of 1.48%. Assurant’s dividend payout ratio (DPR) 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.