Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Chevy Chase Trust Holdings LLC trimmed its position in shares of Assurant, Inc. (NYSE:AIZ) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,758 shares of the financial services provider’s stock after selling 619 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Assurant worth $5,413,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in Assurant by 6.8% in the 4th quarter. CWM LLC now owns 976 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 62 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Assurant by 3.8% during the 1st quarter. Fifth Third Bancorp now owns 1,949 shares of the financial services provider’s stock valued at $367,000 after buying an additional 71 shares during the period. Arizona State Retirement System lifted its stake in shares of Assurant by 0.5% in the 4th quarter. Arizona State Retirement System now owns 14,573 shares of the financial services provider’s stock valued at $2,455,000 after purchasing an additional 73 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Assurant by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider’s stock worth $1,200,000 after buying an additional 73 shares during the period. Finally, Tectonic Advisors LLC raised its position in Assurant by 4.0% in the fourth quarter. Tectonic Advisors LLC now owns 2,197 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 85 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a report on Wednesday, May 15th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Assurant in a research report on Friday, June 28th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $200.25.

Assurant Stock Up 0.8 %

NYSE:AIZ traded up $1.29 during trading hours on Thursday, hitting $166.09. The company’s stock had a trading volume of 5,732 shares, compared to its average volume of 353,114. The stock has a fifty day moving average of $170.51 and a 200-day moving average of $173.01. The stock has a market capitalization of $8.64 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 1.61 and a beta of 0.54. Assurant, Inc. has a 52-week low of $124.22 and a 52-week high of $189.48. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.91. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. On average, equities analysts forecast that Assurant, Inc. will post 16.2 earnings per share for the current year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, June 10th. Assurant’s payout ratio is 20.10%.

Insider Activity at Assurant

In related news, COO Francesca Luthi sold 6,700 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $176.36, for a total value of $1,181,612.00. Following the completion of the sale, the chief operating officer now directly owns 10,748 shares of the company’s stock, valued at $1,895,517.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Michael P. Campbell sold 1,304 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $173.35, for a total transaction of $226,048.40. Following the transaction, the executive vice president now directly owns 24,586 shares in the company, valued at $4,261,983.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the completion of the transaction, the chief operating officer now directly owns 10,748 shares in the company, valued at $1,895,517.28. The disclosure for this sale can be found here. Insiders have sold 12,788 shares of company stock valued at $2,248,489 in the last ninety days. Insiders own 0.53% of the company’s stock.

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.