Nippon Life Global Investors Americas Inc. bought a new stake in shares of Assurant, Inc. (NYSE:AIZ – Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 3,880 shares of the financial services provider’s stock, valued at approximately $1,042,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its stake in shares of Assurant by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider’s stock worth $1,213,968,000 after purchasing an additional 29,974 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Assurant by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider’s stock worth $245,121,000 after purchasing an additional 205,767 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Assurant by 7.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 697,555 shares of the financial services provider’s stock valued at $168,006,000 after buying an additional 49,698 shares in the last quarter. Norges Bank purchased a new stake in Assurant in the 4th quarter valued at approximately $161,574,000. Finally, Morgan Stanley grew its holdings in Assurant by 5.2% during the 4th quarter. Morgan Stanley now owns 640,431 shares of the financial services provider’s stock valued at $154,248,000 after buying an additional 31,432 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.
Assurant Trading Up 0.1%
Shares of Assurant stock opened at $282.76 on Monday. Assurant, Inc. has a fifty-two week low of $205.01 and a fifty-two week high of $303.94. The firm has a market cap of $13.95 billion, a PE ratio of 13.50 and a beta of 0.55. The business’s fifty day moving average is $273.81 and its two-hundred day moving average is $246.25. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36.
Assurant Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, August 31st will be given a dividend of $0.88 per share. The ex-dividend date is Monday, August 31st. This represents a $3.52 annualized dividend and a yield of 1.2%. Assurant’s dividend payout ratio is 16.81%.
Insiders Place Their Bets
In other Assurant news, CAO Dimitry Dirienzo sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total value of $511,360.00. Following the sale, the chief accounting officer directly owned 2,741 shares of the company’s stock, valued at approximately $700,818.88. This trade represents a 42.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Lonergan sold 7,000 shares of Assurant stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $262.71, for a total value of $1,838,970.00. Following the completion of the sale, the executive vice president owned 27,374 shares of the company’s stock, valued at $7,191,423.54. This trade represents a 20.36% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 12,931 shares of company stock valued at $3,539,300. Insiders own 0.54% of the company’s stock.
Analysts Set New Price Targets
Several research firms have weighed in on AIZ. Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings raised Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Truist Financial lifted their price objective on Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Keefe, Bruyette & Woods lifted their price objective on Assurant from $310.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada set a $310.00 target price on shares of Assurant in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $313.71.
Get Our Latest Analysis on AIZ
Assurant Company 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.
See Also
- Five stocks we like better than Assurant
- The Metals Company’s Big Bet Now Comes Down to a License
- OneSpaWorld Keeps Turning Cruise Demand Into Record Earnings
- Meta and Tesla Are Rebounding From Oversold Levels—Now What?
- AMG’s Alternatives Boom Powers Record Growth
Want to see what other hedge funds are holding AIZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Assurant, Inc. (NYSE:AIZ – Free Report).
Receive News & Ratings for Assurant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assurant and related companies with MarketBeat.com's FREE daily email newsletter.
