Sei Investments Co. Cuts Position in Assurant, Inc. (NYSE:AIZ)

Sei Investments Co. decreased its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,861 shares of the financial services provider’s stock after selling 3,083 shares during the quarter. Sei Investments Co. owned about 0.08% of Assurant worth $8,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board boosted its position in shares of Assurant by 2.3% in the third quarter. Public Sector Pension Investment Board now owns 9,021 shares of the financial services provider’s stock worth $1,794,000 after buying an additional 200 shares during the period. PNC Financial Services Group Inc. lifted its position in Assurant by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider’s stock worth $1,657,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. boosted its holdings in Assurant by 28.6% in the 4th quarter. Blue Trust Inc. now owns 845 shares of the financial services provider’s stock worth $168,000 after acquiring an additional 188 shares during the period. JPMorgan Chase & Co. grew its position in Assurant by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider’s stock valued at $34,079,000 after acquiring an additional 24,887 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Assurant during the fourth quarter valued at approximately $329,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Price Performance

AIZ opened at $206.15 on Monday. The company has a market capitalization of $10.47 billion, a P/E ratio of 14.25 and a beta of 0.61. The company has a 50-day moving average of $208.93 and a 200-day moving average of $207.35. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Equities analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on AIZ shares. Keefe, Bruyette & Woods upgraded shares of Assurant from a “market perform” rating to an “outperform” rating and upped their target price for the company from $212.00 to $230.00 in a research note on Thursday, February 20th. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Truist Financial lifted their target price on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley started coverage on Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.17.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by insiders.

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.