Bessemer Group Inc. decreased its stake in Assurant, Inc. (NYSE:AIZ – Free Report) by 37.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,392 shares of the financial services provider’s stock after selling 834 shares during the quarter. Bessemer Group Inc.’s holdings in Assurant were worth $168,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Great West Life Assurance Co. Can increased its position in Assurant by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 20,947 shares of the financial services provider’s stock worth $3,985,000 after buying an additional 64 shares in the last quarter. Tredje AP fonden increased its position in Assurant by 0.8% in the fourth quarter. Tredje AP fonden now owns 10,756 shares of the financial services provider’s stock worth $1,345,000 after buying an additional 83 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Assurant by 1.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,772 shares of the financial services provider’s stock worth $573,000 after acquiring an additional 87 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Assurant by 2.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,647 shares of the financial services provider’s stock worth $456,000 after acquiring an additional 98 shares during the period. Finally, Securian Asset Management Inc. boosted its stake in shares of Assurant by 2.4% in the first quarter. Securian Asset Management Inc. now owns 4,258 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 92.86% of the company’s stock.
Assurant Trading Up 0.8 %
Shares of NYSE:AIZ opened at $140.32 on Friday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $7.44 billion, a PE ratio of 21.82, a P/E/G ratio of 0.81 and a beta of 0.55. Assurant, Inc. has a 12-month low of $104.49 and a 12-month high of $165.84. The business’s fifty day simple moving average is $132.75 and its 200-day simple moving average is $126.74.
Assurant Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Monday, August 28th will be given a $0.70 dividend. The ex-dividend date is Friday, August 25th. This represents a $2.80 annualized dividend and a yield of 2.00%. Assurant’s dividend payout ratio is presently 43.55%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $144.00 price objective for the company in a research note on Tuesday, June 13th. Bank of America upped their price objective on Assurant from $160.00 to $164.00 in a research note on Wednesday, May 3rd. Truist Financial upped their price objective on Assurant from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. StockNews.com began coverage on Assurant in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Finally, TheStreet raised Assurant from a “c+” rating to a “b” rating in a research note on Wednesday, May 10th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $141.00.
Insiders Place Their Bets
In other Assurant news, CFO Richard S. Dziadzio sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $131.07, for a total value of $524,280.00. Following the sale, the chief financial officer now owns 55,893 shares in the company, valued at approximately $7,325,895.51. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Francesca Luthi sold 3,700 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $142.99, for a total transaction of $529,063.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,132 shares of the company’s stock, valued at approximately $1,591,764.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard S. Dziadzio sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $131.07, for a total value of $524,280.00. Following the transaction, the chief financial officer now directly owns 55,893 shares of the company’s stock, valued at $7,325,895.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,700 shares of company stock worth $2,059,393. Corporate insiders own 0.39% of the company’s stock.
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 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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