Intech Investment Management LLC Sells 1,960 Shares of Assurant, Inc. (NYSE:AIZ)

Intech Investment Management LLC lowered its position in shares of Assurant, Inc. (NYSE:AIZ) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,998 shares of the financial services provider’s stock after selling 1,960 shares during the period. Intech Investment Management LLC owned about 0.14% of Assurant worth $14,715,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mizuho Securities USA LLC boosted its holdings in Assurant by 11,480.4% in the third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after acquiring an additional 460,937 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Assurant by 32.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after acquiring an additional 255,471 shares during the period. International Assets Investment Management LLC bought a new position in shares of Assurant in the 3rd quarter worth approximately $284,730,000. TD Asset Management Inc lifted its stake in shares of Assurant by 20.4% in the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after purchasing an additional 96,021 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Assurant by 751.0% during the third quarter. SG Americas Securities LLC now owns 60,674 shares of the financial services provider’s stock valued at $12,066,000 after purchasing an additional 53,544 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AIZ shares. Piper Sandler increased their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial raised their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lifted their target price on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Bank of America boosted their price target on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

Assurant Trading Up 2.0 %

Shares of AIZ stock opened at $225.17 on Friday. The stock has a market capitalization of $11.55 billion, a P/E ratio of 16.06, a P/E/G ratio of 2.18 and a beta of 0.57. 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 firm’s 50 day moving average is $198.78 and its 200 day moving average is $183.73. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $225.47.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping 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 company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company posted $4.29 earnings per share. Assurant’s revenue was up 7.0% compared to the same quarter last year. Research analysts expect that Assurant, Inc. will post 15.05 earnings per share for the current year.

Assurant Increases Dividend

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

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.

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.