Robeco Institutional Asset Management B.V. Increases Position in Assurant, Inc. $AIZ

Robeco Institutional Asset Management B.V. grew its holdings in Assurant, Inc. (NYSE:AIZ) by 16.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 185,949 shares of the financial services provider’s stock after buying an additional 26,678 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Assurant were worth $44,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Apollon Wealth Management LLC purchased a new stake in shares of Assurant in the fourth quarter valued at about $223,000. V Square Quantitative Management LLC purchased a new position in Assurant during the fourth quarter worth about $310,000. Aaron Wealth Advisors LLC purchased a new position in Assurant during the fourth quarter worth about $236,000. Ascent Group LLC raised its holdings in Assurant by 0.8% during the fourth quarter. Ascent Group LLC now owns 5,339 shares of the financial services provider’s stock worth $1,286,000 after purchasing an additional 43 shares in the last quarter. Finally, Tema Etfs LLC purchased a new position in Assurant during the fourth quarter worth about $55,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. BMO Capital Markets cut their price target on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Truist Financial increased their price target on shares of Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, Morgan Stanley lowered their target price on shares of Assurant from $248.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $256.83.

Insider Activity

In other news, EVP Subhashish Sengupta sold 1,880 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $210.53, for a total value of $395,796.40. Following the sale, the executive vice president directly owned 2,895 shares in the company, valued at $609,484.35. This represents a 39.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 750 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $210.98, for a total transaction of $158,235.00. Following the completion of the sale, the chief accounting officer owned 4,741 shares in the company, valued at $1,000,256.18. This represents a 13.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,650 shares of company stock worth $558,331 over the last 90 days. 0.51% of the stock is currently owned by company insiders.

Assurant Trading Up 1.0%

Shares of AIZ opened at $221.63 on Tuesday. 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 firm’s 50-day moving average is $222.49 and its two-hundred day moving average is $225.28. Assurant, Inc. has a twelve month low of $181.75 and a twelve month high of $246.31. The firm has a market capitalization of $11.02 billion, a P/E ratio of 13.06 and a beta of 0.56.

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

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Tuesday, February 17th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, February 17th. Assurant’s dividend payout ratio 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.