Swiss National Bank Trims Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Posted by Defense World Staff on May 12th, 2023

Swiss National Bank decreased its stake in Assurant, Inc. (NYSE:AIZ – Get Rating) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,200 shares of the financial services provider’s stock after selling 18,344 shares during the quarter. Swiss National Bank owned approximately 0.41% of Assurant worth $27,038,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its stake in shares of Assurant by 353.8% in the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 138 shares during the period. Old North State Trust LLC bought a new position in shares of Assurant in the third quarter worth about $33,000. Dupont Capital Management Corp boosted its stake in shares of Assurant by 57.7% in the third quarter. Dupont Capital Management Corp now owns 257 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 94 shares during the period. Covestor Ltd boosted its stake in shares of Assurant by 453.2% in the first quarter. Covestor Ltd now owns 260 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 213 shares during the period. Finally, CWM LLC boosted its stake in shares of Assurant by 66.7% in the fourth quarter. CWM LLC now owns 450 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 180 shares during the period. Institutional investors own 95.86% of the company’s stock.

Assurant Trading Up 0.1 %

AIZ opened at $129.32 on Friday. Assurant, Inc. has a 52 week low of $104.49 and a 52 week high of $188.08. The stock’s fifty day moving average is $119.15 and its two-hundred day moving average is $125.41. The company has a market capitalization of $6.87 billion, a P/E ratio of 28.87, a PEG ratio of 0.80 and a beta of 0.54. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.48.

Assurant (NYSE:AIZ – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The financial services provider reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.64. Assurant had a return on equity of 13.47% and a net margin of 2.33%. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.63 billion. Analysts forecast that Assurant, Inc. will post 13.91 earnings per share for the current year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.17%. Assurant’s dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

A number of brokerages recently commented on AIZ. TheStreet raised Assurant from a “c+” rating to a “b” rating in a research note on Wednesday. Bank of America increased their price target on Assurant from $160.00 to $164.00 in a report on Wednesday, May 3rd. Piper Sandler reduced their price target on Assurant from $133.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday, April 5th. Keefe, Bruyette & Woods upgraded Assurant from a “market perform” rating to an “outperform” rating and set a $52.00 price target on the stock in a report on Tuesday, March 21st. Finally, StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.00.

About Assurant

(Get Rating)

Assurant, Inc engages in the provision of lifestyle and housing solutions of consumer purchases. It operates through Global Lifestyle and Global Housing segments. The Global Lifestyle segment offers mobile device solutions and extended service products and related services for mobile devices, consumer electronics and appliances, vehicle protection and related services.