Assurant, Inc. $AIZ Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its stake in shares of Assurant, Inc. (NYSE:AIZ) by 9.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 315,187 shares of the financial services provider’s stock after selling 31,118 shares during the period. TD Asset Management Inc’s holdings in Assurant were worth $75,913,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AIZ. Norges Bank acquired a new stake in shares of Assurant during the fourth quarter worth $161,574,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Assurant during the fourth quarter worth $36,195,000. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Assurant by 205.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 216,440 shares of the financial services provider’s stock worth $42,745,000 after purchasing an additional 145,600 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in shares of Assurant by 2,977.4% during the second quarter. Worldquant Millennium Advisors LLC now owns 129,219 shares of the financial services provider’s stock worth $25,519,000 after purchasing an additional 125,020 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Assurant by 15.1% during the third quarter. Dimensional Fund Advisors LP now owns 862,500 shares of the financial services provider’s stock worth $186,808,000 after purchasing an additional 113,235 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Subhashish Sengupta sold 1,880 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $210.53, for a total value of $395,796.40. Following the transaction, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. The trade was a 39.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jay Rosenblum sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $251.77, for a total value of $503,540.00. Following the completion of the transaction, the executive vice president owned 12,764 shares in the company, valued at approximately $3,213,592.28. This trade represents a 13.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 31,650 shares of company stock worth $7,930,981. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

AIZ has been the topic of several research reports. Truist Financial increased their target price on Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley raised Assurant from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $240.00 to $285.00 in a research report on Thursday, May 14th. Keefe, Bruyette & Woods increased their target price on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. BMO Capital Markets cut their target price on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Finally, Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $275.83.

Assurant Trading Up 2.3%

NYSE:AIZ opened at $257.47 on Friday. Assurant, Inc. has a 12 month low of $183.39 and a 12 month high of $260.96. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $12.76 billion, a PE ratio of 13.17 and a beta of 0.56. The business’s 50-day moving average is $236.08 and its two-hundred day moving average is $231.87.

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

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 8th will be paid a $0.88 dividend. The ex-dividend date is Monday, June 8th. This represents a $3.52 annualized dividend and a dividend yield of 1.4%. Assurant’s payout ratio is 18.01%.

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.