Robeco Institutional Asset Management B.V. Trims Holdings in Assurant, Inc. (NYSE:AIZ)

Robeco Institutional Asset Management B.V. lowered its position in shares of Assurant, Inc. (NYSE:AIZ) by 29.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 181,870 shares of the financial services provider’s stock after selling 75,088 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Assurant were worth $36,167,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets lifted its stake in shares of Assurant by 110.2% during the 1st quarter. BNP Paribas Financial Markets now owns 102,995 shares of the financial services provider’s stock valued at $19,388,000 after buying an additional 53,985 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Assurant by 5.2% in the first quarter. Janney Montgomery Scott LLC now owns 3,816 shares of the financial services provider’s stock worth $718,000 after acquiring an additional 189 shares during the period. Daiwa Securities Group Inc. grew its position in shares of Assurant by 15.8% during the first quarter. Daiwa Securities Group Inc. now owns 5,862 shares of the financial services provider’s stock worth $1,104,000 after purchasing an additional 801 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Assurant during the first quarter worth about $99,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in Assurant by 62.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,503 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 959 shares during the period. 92.65% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Assurant Price Performance

Assurant stock opened at $193.23 on Wednesday. Assurant, Inc. has a 52-week low of $158.29 and a 52-week high of $201.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average is $194.45 and its 200 day moving average is $180.77. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 2.04 and a beta of 0.57.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.50. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.89 EPS. Sell-side analysts forecast that Assurant, Inc. will post 14.13 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.49%. Assurant’s dividend payout ratio (DPR) is presently 19.19%.

Wall Street Analyst Weigh In

AIZ has been the subject of a number of research analyst reports. Piper Sandler increased their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price target on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Bank of America raised their price objective on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their target price on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $217.00.

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.