Lazard Asset Management LLC Trims Stock Position in Assurant, Inc. (NYSE:AIZ)

Lazard Asset Management LLC cut its position in shares of Assurant, Inc. (NYSE:AIZGet Rating) by 98.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,279 shares of the financial services provider’s stock after selling 114,120 shares during the period. Lazard Asset Management LLC’s holdings in Assurant were worth $331,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Ronald Blue Trust Inc. purchased a new stake in shares of Assurant in the 2nd quarter valued at approximately $31,000. Parkside Financial Bank & Trust raised its stake in shares of Assurant by 353.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the period. Allworth Financial LP raised its stake in shares of Assurant by 83.6% in the 3rd quarter. Allworth Financial LP now owns 224 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 102 shares during the period. Old North State Trust LLC purchased a new stake in shares of Assurant in the 3rd quarter valued at approximately $33,000. Finally, Dupont Capital Management Corp raised its stake in shares of Assurant by 57.7% in the 3rd quarter. Dupont Capital Management Corp now owns 257 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 94 shares during the period. 95.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 525 shares of the stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $131.68, for a total value of $69,132.00. Following the sale, the chief accounting officer now directly owns 5,881 shares of the company’s stock, valued at approximately $774,410.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.39% of the company’s stock.

Assurant Price Performance

Shares of AIZ opened at $126.44 on Friday. Assurant, Inc. has a fifty-two week low of $119.01 and a fifty-two week high of $194.12. The firm’s 50 day moving average price is $129.14 and its 200 day moving average price is $137.93. The company has a market cap of $6.69 billion, a P/E ratio of 25.54, a PEG ratio of 0.90 and a beta of 0.54. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.50.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Shareholders of record on Monday, February 27th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, February 24th. Assurant’s dividend payout ratio is presently 56.57%.

Wall Street Analysts Forecast Growth

AIZ has been the topic of a number of research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $133.00 price target on shares of Assurant in a research note on Wednesday, February 8th. Morgan Stanley cut their target price on shares of Assurant from $215.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, November 21st. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $154.75.

About Assurant

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Assurant, Inc engages in the provision of lifestyle and housing solutions of consumer purchases. It operates through Global Lifestyle and Global Housing segments. 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.

See Also

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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