Swiss National Bank Sells 7,500 Shares of Assurant, Inc. (NYSE:AIZ)

Swiss National Bank cut its position in Assurant, Inc. (NYSE:AIZ) by 4.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 146,300 shares of the financial services provider’s stock after selling 7,500 shares during the period. Swiss National Bank’s holdings in Assurant were worth $31,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of Assurant in the third quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Assurant during the 4th quarter worth $28,000. Smartleaf Asset Management LLC increased its position in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 75 shares during the period. Jones Financial Companies Lllp raised its stake in Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 103 shares in the last quarter. Finally, Huntington National Bank lifted its position in Assurant by 509.4% during the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 163 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Assurant Stock Performance

Shares of Assurant stock opened at $214.67 on Tuesday. The company’s 50 day moving average price is $208.07 and its two-hundred day moving average price is $206.31. The firm has a market capitalization of $10.90 billion, a P/E ratio of 14.84 and a beta of 0.61. 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 fifty-two week low of $160.12 and a fifty-two week high of $230.55.

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

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be given a dividend of $0.80 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.49%. Assurant’s payout ratio is presently 22.11%.

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.