Robeco Institutional Asset Management B.V. Sells 28,935 Shares of Assurant, Inc. (NYSE:AIZ)

Robeco Institutional Asset Management B.V. lowered its stake in shares of Assurant, Inc. (NYSE:AIZ) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,935 shares of the financial services provider’s stock after selling 28,935 shares during the period. Robeco Institutional Asset Management B.V. owned 0.30% of Assurant worth $32,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. True Wealth Design LLC purchased a new stake in shares of Assurant during the 3rd quarter worth $25,000. Huntington National Bank raised its holdings in Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 163 shares in the last quarter. Brooklyn Investment Group bought a new position in Assurant in the third quarter worth about $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Assurant during the third quarter valued at about $56,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Assurant in the 3rd quarter valued at about $72,000. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

Shares of AIZ opened at $218.75 on Friday. The firm has a market capitalization of $11.22 billion, a PE ratio of 15.60 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The company’s fifty day moving average price is $215.06 and its 200-day moving average price is $199.48. 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, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the company earned $4.29 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. On average, equities research analysts predict that Assurant, Inc. will post 15.38 EPS for the current year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date is Monday, February 3rd. Assurant’s dividend payout ratio is presently 22.82%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AIZ. Morgan Stanley initiated coverage on shares of Assurant in a research note on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price objective for the company. Bank of America upped their price target on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods upped their target price on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, Truist Financial increased their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $229.50.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now owns 20,658 shares of the company’s stock, valued at $4,321,240.44. The trade was a 12.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.53% of the company’s stock.

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.