BNP Paribas Financial Markets Trims Stock Position in Assurant, Inc. (NYSE:AIZ)

BNP Paribas Financial Markets decreased its position in Assurant, Inc. (NYSE:AIZ) by 13.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,305 shares of the financial services provider’s stock after selling 13,943 shares during the period. BNP Paribas Financial Markets’ holdings in Assurant were worth $17,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIZ. Pathstone Holdings LLC raised its position in Assurant by 0.5% during the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock valued at $2,006,000 after purchasing an additional 52 shares in the last quarter. US Bancorp DE raised its holdings in shares of Assurant by 7.2% in the third quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 56 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in Assurant by 4.2% in the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 59 shares during the period. Richardson Financial Services Inc. grew its holdings in Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 77 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Assurant by 1.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 78 shares during the period. Institutional investors own 92.65% of the company’s stock.

Assurant Trading Up 0.0 %

Shares of NYSE:AIZ opened at $227.10 on Friday. The business’s 50-day moving average is $203.46 and its 200 day moving average is $186.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The firm has a market capitalization of $11.65 billion, a P/E ratio of 16.20 and a beta of 0.57.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period last year, the business earned $4.29 EPS. Assurant’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts predict that Assurant, Inc. will post 15.41 earnings per share for the current fiscal year.

Assurant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.41%. This is an increase from Assurant’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 9th. Assurant’s dividend payout ratio is presently 22.82%.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the sale, the executive vice president now owns 20,658 shares in the company, valued at $4,321,240.44. This represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AIZ. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Piper Sandler boosted their price target on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America upped their price objective on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Truist Financial lifted their target price on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.20.

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 contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.