Nordea Investment Management AB Has $101.20 Million Holdings in Assurant, Inc. $AIZ

Nordea Investment Management AB reduced its holdings in Assurant, Inc. (NYSE:AIZ) by 16.7% during the 2nd quarter, Holdings Channel reports. The fund owned 514,776 shares of the financial services provider’s stock after selling 103,108 shares during the quarter. Nordea Investment Management AB’s holdings in Assurant were worth $101,195,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in shares of 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 acquiring an additional 420,069 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Assurant by 28.0% in the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider’s stock worth $310,285,000 after acquiring an additional 323,573 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Assurant by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider’s stock worth $186,533,000 after acquiring an additional 72,046 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Assurant by 1.1% in the 1st quarter. Northern Trust Corp now owns 841,006 shares of the financial services provider’s stock worth $176,401,000 after acquiring an additional 9,142 shares in the last quarter. Finally, Deutsche Bank AG raised its position in Assurant by 5.6% in the 1st quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider’s stock worth $121,951,000 after purchasing an additional 30,629 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $204.96, for a total transaction of $194,712.00. Following the completion of the sale, the chief accounting officer owned 3,135 shares in the company, valued at approximately $642,549.60. The trade was a 23.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Keith Demmings sold 13,725 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 27,125 shares of company stock worth $5,917,925. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AIZ. Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Weiss Ratings restated a “buy (b-)” rating on shares of Assurant in a research report on Wednesday, October 8th. Piper Sandler boosted their price objective on shares of Assurant from $238.00 to $248.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Stephens began coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an “overweight” rating for the company. Finally, Benchmark began coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Assurant presently has a consensus rating of “Buy” and an average target price of $243.00.

Assurant Stock Performance

Shares of Assurant stock opened at $208.99 on Friday. The firm has a fifty day moving average of $213.91 and a two-hundred day moving average of $200.95. The stock has a market capitalization of $10.55 billion, a price-to-earnings ratio of 15.13 and a beta of 0.55. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $230.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40.

Assurant (NYSE:AIZ) last issued its earnings results on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. The company had revenue of $2.42 billion during the quarter. Assurant had a net margin of 5.83% and a return on equity of 16.47%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. As a group, equities research analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Assurant’s payout ratio is presently 23.17%.

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.