iA Global Asset Management Inc. Lowers Stock Holdings in Assurant, Inc. (NYSE:AIZ)

iA Global Asset Management Inc. reduced its position in Assurant, Inc. (NYSE:AIZ) by 34.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,404 shares of the financial services provider’s stock after selling 1,258 shares during the period. iA Global Asset Management Inc.’s holdings in Assurant were worth $513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in Assurant in the 3rd quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Assurant during the 4th quarter valued at $28,000. Smartleaf Asset Management LLC grew its stake in shares of Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after buying an additional 75 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Assurant by 219.1% during the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after buying an additional 103 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Assurant during the 3rd quarter valued at $42,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares in the company, valued at $3,568,162. The trade was a 14.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by company insiders.

Assurant Stock Down 2.5 %

Shares of Assurant stock opened at $206.83 on Friday. The company has a fifty day moving average price of $208.65 and a 200 day moving average price of $206.66. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 14.29 and a beta of 0.61.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Equities research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.55%. Assurant’s dividend payout ratio is currently 22.11%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley assumed 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. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial boosted their price objective on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $212.00 to $230.00 in a research note on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.17.

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.