Nisa Investment Advisors LLC increased its position in Assurant, Inc. (NYSE:AIZ – Free Report) by 6.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 29,422 shares of the financial services provider’s stock after purchasing an additional 1,657 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.06% of Assurant worth $3,533,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. grew its stake in Assurant by 826.3% in the 4th quarter. Macquarie Group Ltd. now owns 780,029 shares of the financial services provider’s stock valued at $97,550,000 after buying an additional 695,820 shares during the last quarter. Norges Bank acquired a new position in Assurant in the 4th quarter valued at about $74,321,000. Invesco Ltd. grew its stake in Assurant by 53.7% in the 1st quarter. Invesco Ltd. now owns 1,622,996 shares of the financial services provider’s stock valued at $295,111,000 after buying an additional 566,763 shares during the last quarter. Edmp Inc. acquired a new position in Assurant in the 4th quarter valued at about $2,890,000. Finally, T. Rowe Price Investment Management Inc. grew its stake in Assurant by 4.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,694,084 shares of the financial services provider’s stock valued at $712,103,000 after buying an additional 237,239 shares during the last quarter. 92.86% of the stock is owned by institutional investors.
Assurant Stock Performance
NYSE AIZ opened at $134.74 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 1.02 and a beta of 0.55. The firm’s 50 day simple moving average is $126.91 and its 200 day simple moving average is $125.19. Assurant, Inc. has a 1 year low of $104.49 and a 1 year high of $176.31.
Assurant Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Friday, May 26th. Assurant’s dividend payout ratio (DPR) is presently 62.50%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on AIZ shares. Bank of America upped their price target on shares of Assurant from $160.00 to $164.00 in a research note on Wednesday, May 3rd. Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $144.00 target price on the stock in a research report on Tuesday, June 13th. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, TheStreet upgraded shares of Assurant from a “c+” rating to a “b” rating in a research report on Wednesday, May 10th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and an average price target of $139.00.
Insider Transactions at Assurant
In other news, CFO Richard S. Dziadzio sold 4,000 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $131.07, for a total transaction of $524,280.00. Following the completion of the sale, the chief financial officer now directly owns 55,893 shares in the company, valued at $7,325,895.51. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Assurant news, CAO Dimitry Dirienzo sold 800 shares of the firm’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $124.00, for a total value of $99,200.00. Following the completion of the sale, the chief accounting officer now directly owns 5,516 shares in the company, valued at $683,984. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard S. Dziadzio sold 4,000 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $131.07, for a total transaction of $524,280.00. Following the completion of the sale, the chief financial officer now owns 55,893 shares of the company’s stock, valued at $7,325,895.51. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.
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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.
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