Assurant, Inc. $AIZ Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group trimmed its position in shares of Assurant, Inc. (NYSE:AIZ) by 17.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 428,677 shares of the financial services provider’s stock after selling 88,713 shares during the quarter. Schroder Investment Management Group owned approximately 0.86% of Assurant worth $92,851,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Assurant by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,775,234 shares of the financial services provider’s stock valued at $1,338,041,000 after buying an additional 88,749 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Assurant by 23.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock worth $1,085,247,000 after buying an additional 959,259 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Assurant by 4.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,245,022 shares of the financial services provider’s stock worth $245,879,000 after buying an additional 53,773 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Assurant by 15.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 862,500 shares of the financial services provider’s stock valued at $186,808,000 after acquiring an additional 113,235 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Assurant by 29.3% in the 3rd quarter. Nordea Investment Management AB now owns 665,683 shares of the financial services provider’s stock valued at $143,588,000 after acquiring an additional 150,907 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Assurant from $232.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Truist Financial upped their target price on Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Finally, Piper Sandler boosted their price target on Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Assurant presently has an average rating of “Moderate Buy” and a consensus target price of $258.17.

Assurant Price Performance

AIZ stock opened at $219.76 on Tuesday. The company has a market cap of $10.92 billion, a PE ratio of 12.95 and a beta of 0.58. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $232.41 and a two-hundred day moving average price of $224.45. Assurant, Inc. has a 12-month low of $174.97 and a 12-month high of $246.31.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $5.61 EPS for the quarter, topping analysts’ consensus estimates of $5.55 by $0.06. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.28 billion. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $4.79 EPS. As a group, research analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Tuesday, February 17th will be issued a $0.88 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $3.52 annualized dividend and a yield of 1.6%. Assurant’s dividend payout ratio (DPR) is presently 20.74%.

Assurant Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.