UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Position in Assurant, Inc. (NYSE:AIZ)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 396,040 shares of the financial services provider’s stock after selling 24,426 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.77% of Assurant worth $78,757,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Pathstone Holdings LLC boosted its position in Assurant by 0.5% during the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock worth $2,006,000 after purchasing an additional 52 shares during the period. US Bancorp DE grew its stake in shares of Assurant by 7.2% in the third quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after buying an additional 56 shares in the last quarter. Catalyst Financial Partners LLC raised its holdings in shares of Assurant by 4.2% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock valued at $244,000 after buying an additional 59 shares during the period. Richardson Financial Services Inc. lifted its position in Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 77 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Assurant by 1.1% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock worth $1,376,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial boosted their price objective on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. UBS Group boosted 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, Keefe, Bruyette & Woods raised their price objective on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Assurant currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.20.

Insider Buying and Selling

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

Assurant Price Performance

AIZ opened at $225.76 on Tuesday. The company has a market capitalization of $11.58 billion, a P/E ratio of 16.10 and a beta of 0.57. The company has a 50-day moving average of $204.02 and a 200-day moving average of $186.56. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company earned $4.29 earnings per share. Assurant’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts expect that Assurant, Inc. will post 15.41 EPS for the current fiscal year.

Assurant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.80 per share. This is a positive change from Assurant’s previous quarterly dividend of $0.72. This represents a $3.20 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, December 9th. Assurant’s dividend payout ratio is currently 22.82%.

Assurant 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.