Assurant, Inc. (NYSE:AIZ) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its stake in shares of Assurant, Inc. (NYSE:AIZ) by 2.6% during the 3rd quarter, Holdings Channel reports. The fund owned 73,998 shares of the financial services provider’s stock after selling 1,960 shares during the quarter. Intech Investment Management LLC’s holdings in Assurant were worth $14,715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AIZ. Innealta Capital LLC acquired a new position in shares of Assurant during the second quarter valued at approximately $31,000. Richardson Financial Services Inc. lifted its position in shares of Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 77 shares in the last quarter. Huntington National Bank boosted its stake in shares of Assurant by 509.4% in the third 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. Family Firm Inc. acquired a new position in shares of Assurant in the second quarter valued at approximately $51,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Assurant in the third quarter valued at $56,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AIZ. Piper Sandler boosted their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America lifted their target price 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 lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. UBS Group upped their price target on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Truist Financial lifted their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.20.

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the sale, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by insiders.

Assurant Stock Performance

NYSE:AIZ opened at $225.17 on Friday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $11.55 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 2.18 and a beta of 0.57. The firm has a 50-day moving average price of $198.78 and a two-hundred day moving average price of $183.73. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $225.47.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the company earned $4.29 earnings per share. As a group, research analysts expect that Assurant, Inc. will post 15.05 earnings per share for the current fiscal year.

Assurant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.42%. This is a positive change from Assurant’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 9th. Assurant’s dividend payout ratio (DPR) is presently 20.54%.

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.