Assurant, Inc. $AIZ Shares Sold by TD Asset Management Inc

TD Asset Management Inc cut its position in Assurant, Inc. (NYSE:AIZ) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 315,187 shares of the financial services provider’s stock after selling 31,118 shares during the quarter. TD Asset Management Inc owned 0.63% of Assurant worth $75,913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. CIBC Asset Management Inc grew its stake in shares of Assurant by 79.9% in the fourth quarter. CIBC Asset Management Inc now owns 11,732 shares of the financial services provider’s stock valued at $2,826,000 after buying an additional 5,212 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Assurant by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider’s stock worth $1,213,968,000 after purchasing an additional 29,974 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Assurant by 9.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 213,534 shares of the financial services provider’s stock worth $51,430,000 after purchasing an additional 18,446 shares in the last quarter. Crestmont Private Wealth LLC acquired a new position in Assurant during the 4th quarter worth $216,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in Assurant by 14.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 1,830 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 230 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Assurant news, CAO Dimitry Dirienzo sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total transaction of $511,360.00. Following the transaction, the chief accounting officer owned 2,741 shares in the company, valued at approximately $700,818.88. The trade was a 42.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jay Rosenblum sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $251.77, for a total value of $503,540.00. Following the transaction, the executive vice president owned 12,764 shares in the company, valued at $3,213,592.28. The trade was a 13.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 31,650 shares of company stock worth $7,930,981. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. UBS Group upped their price objective on Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. BMO Capital Markets reduced their target price on Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Piper Sandler boosted their target price on Assurant from $268.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods boosted their target price on Assurant from $258.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings raised Assurant from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, May 26th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $275.83.

Assurant Stock Up 2.3%

AIZ opened at $257.47 on Friday. The business has a 50 day moving average price of $236.08 and a two-hundred day moving average price of $231.87. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a market cap of $12.76 billion, a PE ratio of 13.17 and a beta of 0.56. Assurant, Inc. has a 52 week low of $183.39 and a 52 week high of $260.96.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, beating the consensus estimate of $5.29 by $0.66. The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $5.79 EPS. As a group, research analysts anticipate that Assurant, Inc. will post 21.04 EPS for the current year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 8th will be given a dividend of $0.88 per share. The ex-dividend date is Monday, June 8th. This represents a $3.52 annualized dividend and a yield of 1.4%. Assurant’s payout ratio is presently 18.01%.

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.