Assurant, Inc. $AIZ Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in shares of Assurant, Inc. (NYSE:AIZ) by 13.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 79,491 shares of the financial services provider’s stock after acquiring an additional 9,433 shares during the quarter. Hsbc Holdings PLC’s holdings in Assurant were worth $19,184,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new stake in Assurant during the 2nd quarter worth about $27,000. Montag A & Associates Inc. acquired a new stake in shares of Assurant during the 4th quarter worth about $28,000. BOKF NA acquired a new stake in shares of Assurant during the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. lifted its stake in Assurant by 57.8% during the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Finally, Park Square Financial Group LLC boosted its holdings in Assurant by 205.5% in the fourth quarter. Park Square Financial Group LLC now owns 168 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Buying and Selling at Assurant

In related news, EVP Keith Meier sold 25,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $254.31, for a total value of $6,357,750.00. Following the transaction, the executive vice president owned 18,552 shares in the company, valued at $4,717,959.12. The trade was a 57.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jay Rosenblum sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $251.77, for a total value of $503,540.00. Following the sale, the executive vice president directly owned 12,764 shares of the company’s stock, valued at approximately $3,213,592.28. This represents a 13.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,000 shares of company stock valued at $9,211,620 over the last ninety days. 0.54% of the stock is currently owned by corporate insiders.

Assurant Trading Up 0.3%

AIZ opened at $280.05 on Wednesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 52 week low of $183.39 and a 52 week high of $284.12. The business’s 50 day moving average is $254.96 and its two-hundred day moving average is $237.85. The firm has a market cap of $13.88 billion, a price-to-earnings ratio of 14.32 and a beta of 0.55.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.29 by $0.66. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $5.79 earnings per share. On average, research analysts predict that Assurant, Inc. will post 21.04 EPS for the current year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 8th were paid a $0.88 dividend. The ex-dividend date was Monday, June 8th. This represents a $3.52 dividend on an annualized basis and a yield of 1.3%. Assurant’s payout ratio is currently 18.01%.

Analysts Set New Price Targets

A number of analysts have weighed in on AIZ shares. Piper Sandler reissued an “overweight” rating on shares of Assurant in a report on Monday, June 22nd. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Keefe, Bruyette & Woods increased their target price on shares of Assurant from $258.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Truist Financial lifted their price target on shares of Assurant from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, UBS Group boosted their price target on shares of Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.71.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.