Principal Financial Group Inc. Has $17.59 Million Stock Position in Assurant, Inc. (NYSE:AIZ)

Principal Financial Group Inc. lifted its stake in shares of Assurant, Inc. (NYSE:AIZGet Rating) by 43.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 101,776 shares of the financial services provider’s stock after purchasing an additional 30,654 shares during the quarter. Principal Financial Group Inc. owned 0.19% of Assurant worth $17,592,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tcwp LLC acquired a new stake in shares of Assurant during the 1st quarter worth $27,000. CX Institutional bought a new position in Assurant in the second quarter valued at about $28,000. Parkside Financial Bank & Trust raised its position in Assurant by 353.8% in the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 138 shares during the last quarter. Venture Visionary Partners LLC bought a new position in shares of Assurant during the second quarter worth about $35,000. Finally, Covestor Ltd raised its position in shares of Assurant by 453.2% during the first quarter. Covestor Ltd now owns 260 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 213 shares during the last quarter. 84.67% of the stock is owned by institutional investors and hedge funds.

Assurant Trading Up 0.5 %

Shares of Assurant stock opened at $127.18 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.44 and a current ratio of 0.44. Assurant, Inc. has a 52 week low of $119.01 and a 52 week high of $194.12. The stock has a 50 day moving average price of $141.05 and a two-hundred day moving average price of $160.58. The stock has a market capitalization of $6.72 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 0.72 and a beta of 0.52.

Assurant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, November 28th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, November 25th. This is a boost from Assurant’s previous quarterly dividend of $0.68. Assurant’s dividend payout ratio (DPR) is 46.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods downgraded Assurant from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $199.00 to $151.00 in a research report on Thursday, November 3rd. TheStreet downgraded Assurant from a “b-” rating to a “c+” rating in a report on Wednesday, November 2nd. StockNews.com started coverage on Assurant in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley lowered their target price on Assurant from $215.00 to $165.00 and set an “overweight” rating for the company in a report on Monday. Finally, Truist Financial lowered their target price on Assurant from $220.00 to $170.00 in a report on Wednesday, October 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Assurant has a consensus rating of “Hold” and a consensus price target of $170.20.

Assurant Profile

(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.

See Also

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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.