By otakuyassine3@gmail.com 
Vontobel Holding Ltd. lessened its position in shares of Assurant, Inc. (NYSE:AIZ – Free Report) by 58.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 996 shares of the financial services provider’s stock after selling 1,381 shares during the quarter. Vontobel Holding Ltd.’s holdings in Assurant were worth $212,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AIZ. True Wealth Design LLC acquired a new stake in Assurant during the 3rd quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Assurant during the 4th quarter valued at approximately $28,000. Huntington National Bank increased its position in Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 163 shares during the period. Brooklyn Investment Group acquired a new stake in Assurant during the 3rd quarter valued at approximately $42,000. Finally, Capital Performance Advisors LLP acquired a new stake in Assurant during the 3rd quarter valued at approximately $56,000. Institutional investors and hedge funds own 92.65% of the company’s stock.
Assurant Stock Performance
NYSE AIZ opened at $199.73 on Friday. The company has a fifty day simple moving average of $210.44 and a 200 day simple moving average of $203.47. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The company has a current ratio of 0.64, a quick ratio of 0.42 and a debt-to-equity ratio of 0.41. The company has a market cap of $10.24 billion, a P/E ratio of 13.80 and a beta of 0.62.
Assurant (NYSE:AIZ – Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.
Assurant Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s payout ratio is currently 22.11%.
Insider Activity at Assurant
In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on AIZ. Morgan Stanley began coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price objective for the company. Truist Financial raised their price objective on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $212.00 to $230.00 in a research report on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $234.17.
Read Our Latest Stock Analysis on Assurant
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.
Further Reading
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