Truist Financial Corp Acquires 156 Shares of Assurant, Inc. (NYSE:AIZ)

Truist Financial Corp increased its holdings in Assurant, Inc. (NYSE:AIZGet Rating) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,604 shares of the financial services provider’s stock after purchasing an additional 156 shares during the period. Truist Financial Corp’s holdings in Assurant were worth $814,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Savant Capital LLC raised its stake in shares of Assurant by 2.7% in the 2nd quarter. Savant Capital LLC now owns 2,853 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 76 shares in the last quarter. Bank of America Corp DE raised its position in shares of Assurant by 1.5% in the first quarter. Bank of America Corp DE now owns 438,017 shares of the financial services provider’s stock valued at $79,645,000 after purchasing an additional 6,675 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Assurant by 285.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 59,035 shares of the financial services provider’s stock worth $10,204,000 after buying an additional 43,717 shares during the last quarter. CX Institutional bought a new stake in shares of Assurant during the 2nd quarter worth $28,000. Finally, Oregon Public Employees Retirement Fund grew its stake in Assurant by 103.2% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,254 shares of the financial services provider’s stock valued at $1,600,000 after buying an additional 4,700 shares during the last quarter. 95.86% of the stock is currently owned by institutional investors.

Assurant Price Performance

Shares of NYSE:AIZ opened at $128.91 on Friday. The firm has a market capitalization of $6.81 billion, a PE ratio of 22.15, a PEG ratio of 0.82 and a beta of 0.50. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52. Assurant, Inc. has a 1-year low of $119.01 and a 1-year high of $194.12. The business’s 50 day moving average is $126.62 and its 200-day moving average is $145.73.

Assurant (NYSE:AIZGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Assurant had a net margin of 3.25% and a return on equity of 12.00%. The firm had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.62 billion. Sell-side analysts predict that Assurant, Inc. will post 10.52 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Shareholders of record on Monday, February 27th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. Assurant’s payout ratio is 48.11%.

Analysts Set New Price Targets

AIZ has been the subject of a number of research analyst reports. Piper Sandler cut their target price on shares of Assurant from $144.00 to $133.00 and set a “neutral” rating for the company in a research report on Tuesday, December 20th. TheStreet lowered Assurant from a “b-” rating to a “c+” rating in a report on Wednesday, November 2nd. Keefe, Bruyette & Woods lowered Assurant from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $199.00 to $151.00 in a report on Thursday, November 3rd. Truist Financial lowered their price objective on shares of Assurant from $220.00 to $170.00 in a research note on Wednesday, October 26th. Finally, Morgan Stanley cut their target price on shares of Assurant from $215.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday, November 21st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $154.75.

Assurant Company Profile

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Assurant, Inc is a global provider of lifestyle and housing solutions that support, protect, and connect major consumer purchases. It operates through the following segments: Global Lifestyle, Global Housing, and Corporate and Other. 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.

Further Reading

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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