abrdn plc Sells 14,979 Shares of Assurant, Inc. (NYSE:AIZ)

abrdn plc lessened its position in Assurant, Inc. (NYSE:AIZGet Rating) by 51.5% in the first quarter, HoldingsChannel.com reports. The fund owned 14,124 shares of the financial services provider’s stock after selling 14,979 shares during the period. abrdn plc’s holdings in Assurant were worth $2,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bellecapital International Ltd. bought a new position in shares of Assurant in the 1st quarter valued at about $325,000. Cookson Peirce & Co. Inc. boosted its holdings in shares of Assurant by 2.7% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 51,305 shares of the financial services provider’s stock worth $9,329,000 after buying an additional 1,331 shares during the period. Calamos Advisors LLC boosted its holdings in shares of Assurant by 11.5% during the 1st quarter. Calamos Advisors LLC now owns 135,294 shares of the financial services provider’s stock worth $24,601,000 after buying an additional 13,954 shares during the period. Mutual of America Capital Management LLC boosted its holdings in shares of Assurant by 1.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 7,603 shares of the financial services provider’s stock worth $1,382,000 after buying an additional 77 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Assurant by 20.8% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 447 shares of the financial services provider’s stock worth $81,000 after buying an additional 77 shares during the period. Institutional investors own 91.36% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on AIZ shares. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a report on Saturday, July 9th. Piper Sandler downgraded shares of Assurant from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $205.00 to $185.00 in a report on Friday, June 24th.

Assurant Price Performance

Shares of Assurant stock opened at $175.78 on Monday. Assurant, Inc. has a twelve month low of $144.18 and a twelve month high of $194.12. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.44. The company has a 50-day simple moving average of $174.37 and a two-hundred day simple moving average of $173.38. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.77 and a beta of 0.55.

Assurant (NYSE:AIZGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported $3.75 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.89. Assurant had a net margin of 13.23% and a return on equity of 11.23%. The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same quarter in the previous year, the company earned $2.47 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Analysts forecast that Assurant, Inc. will post 12.91 EPS for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Tuesday, May 31st were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, May 27th. Assurant’s payout ratio is presently 11.89%.

About Assurant

(Get Rating)

Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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