Blue Trust Inc. increased its holdings in Assurant, Inc. (NYSE:AIZ – Free Report) by 15.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 933 shares of the financial services provider’s stock after buying an additional 123 shares during the quarter. Blue Trust Inc.’s holdings in Assurant were worth $184,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of AIZ. Bank of New York Mellon Corp boosted its position in Assurant by 12.7% in the 1st quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider’s stock worth $784,603,000 after purchasing an additional 420,069 shares in the last quarter. Invesco Ltd. lifted its position in shares of Assurant by 28.0% during the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider’s stock valued at $310,285,000 after buying an additional 323,573 shares in the last quarter. Nuveen LLC purchased a new position in shares of Assurant during the 1st quarter valued at approximately $28,095,000. Fuller & Thaler Asset Management Inc. lifted its position in shares of Assurant by 73.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 279,268 shares of the financial services provider’s stock valued at $58,577,000 after buying an additional 118,096 shares in the last quarter. Finally, Amundi lifted its position in shares of Assurant by 30.6% during the 1st quarter. Amundi now owns 367,161 shares of the financial services provider’s stock valued at $74,688,000 after buying an additional 85,962 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.
Assurant Stock Down 3.1%
Shares of AIZ opened at $215.04 on Thursday. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $230.55. The company has a market capitalization of $10.85 billion, a PE ratio of 15.57 and a beta of 0.55. The stock has a fifty day simple moving average of $213.68 and a two-hundred day simple moving average of $200.98. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38.
Assurant Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. Assurant’s dividend payout ratio (DPR) is 23.17%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on AIZ shares. Morgan Stanley increased their target price on Assurant from $230.00 to $232.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Assurant in a research report on Wednesday, October 8th. Wall Street Zen upgraded Assurant from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Benchmark started coverage on Assurant in a report on Tuesday, August 12th. They issued a “buy” rating on the stock. Finally, BMO Capital Markets started coverage on Assurant in a report on Tuesday, August 12th. They issued an “outperform” rating and a $238.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $243.00.
Read Our Latest Research Report on AIZ
Insiders Place Their Bets
In other Assurant news, CEO Keith Demmings sold 13,725 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total value of $3,026,637.00. Following the completion of the sale, the chief executive officer directly owned 84,647 shares of the company’s stock, valued at $18,666,356.44. This trade represents a 13.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Dimitry Dirienzo sold 950 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $204.96, for a total value of $194,712.00. Following the sale, the chief accounting officer directly owned 3,135 shares of the company’s stock, valued at $642,549.60. The trade was a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,125 shares of company stock valued at $5,917,925 in the last three months. 0.51% of the stock is currently owned by 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.
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