Intech Investment Management LLC Has $9.30 Million Holdings in Assurant, Inc. (NYSE:AIZ)

Intech Investment Management LLC decreased its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 41.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,622 shares of the financial services provider’s stock after selling 30,376 shares during the quarter. Intech Investment Management LLC owned 0.09% of Assurant worth $9,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its stake in shares of Assurant by 36.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider’s stock valued at $708,016,000 after acquiring an additional 891,292 shares during the last quarter. FMR LLC raised its position in Assurant by 6.0% in the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock valued at $231,392,000 after purchasing an additional 65,874 shares during the last quarter. Amundi boosted its stake in shares of Assurant by 45.0% during the fourth quarter. Amundi now owns 281,199 shares of the financial services provider’s stock valued at $57,764,000 after purchasing an additional 87,323 shares in the last quarter. World Investment Advisors LLC bought a new stake in shares of Assurant during the third quarter worth about $48,430,000. Finally, Barclays PLC increased its stake in shares of Assurant by 48.4% in the third quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock valued at $38,243,000 after buying an additional 62,696 shares during the period. Institutional investors own 92.65% of the company’s stock.

Insider Transactions at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now owns 17,708 shares in the company, valued at $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Assurant Stock Down 1.1 %

Shares of Assurant stock opened at $212.43 on Wednesday. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 14.68 and a beta of 0.61. The stock’s 50-day moving average is $208.19 and its 200 day moving average is $206.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Equities research analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.51%. Assurant’s dividend payout ratio is currently 22.11%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. Morgan Stanley assumed coverage on Assurant in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target on the stock. Finally, StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.17.

About Assurant

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.