Allspring Global Investments Holdings LLC Has $524,000 Stake in Assurant, Inc. (NYSE:AIZ)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 67.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,477 shares of the financial services provider’s stock after selling 5,138 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Assurant were worth $524,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AIZ. Blue Trust Inc. increased its holdings in Assurant by 86.1% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 304 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in shares of Assurant in the 3rd quarter worth $228,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Assurant by 21.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,362 shares of the financial services provider’s stock worth $1,072,000 after acquiring an additional 934 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Assurant by 54.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,450 shares of the financial services provider’s stock valued at $885,000 after purchasing an additional 1,570 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Assurant by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 6,044 shares of the financial services provider’s stock valued at $1,201,000 after purchasing an additional 405 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Performance

Shares of AIZ opened at $202.64 on Tuesday. The company has a market cap of $10.39 billion, a PE ratio of 14.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.64 and a quick ratio of 0.42. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The stock has a 50-day moving average of $210.08 and a 200-day moving average of $204.15.

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

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.58%. Assurant’s payout ratio is presently 22.11%.

Insider Buying and Selling

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction on 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 owns 17,708 shares of the company’s stock, valued at $3,568,162. The trade was a 14.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AIZ. Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. Truist Financial raised their target price on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley started coverage on Assurant in a report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price objective on the stock. Finally, StockNews.com lowered 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 MarketBeat.com, the stock 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.