Allspring Global Investments Holdings LLC Lowers Position in Assurant, Inc. $AIZ

Allspring Global Investments Holdings LLC cut its stake in shares of Assurant, Inc. (NYSE:AIZ) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,360 shares of the financial services provider’s stock after selling 84 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Assurant were worth $466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC lifted its position in Assurant by 4.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,241 shares of the financial services provider’s stock valued at $2,417,000 after purchasing an additional 496 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Assurant by 15.2% in the second quarter. Blue Trust Inc. now owns 933 shares of the financial services provider’s stock valued at $184,000 after acquiring an additional 123 shares in the last quarter. Tectonic Advisors LLC lifted its position in shares of Assurant by 3.3% in the second quarter. Tectonic Advisors LLC now owns 3,030 shares of the financial services provider’s stock valued at $598,000 after acquiring an additional 97 shares in the last quarter. REAP Financial Group LLC lifted its position in shares of Assurant by 193.9% in the second quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 95 shares in the last quarter. Finally, Shell Asset Management Co. lifted its position in shares of Assurant by 70.4% in the second quarter. Shell Asset Management Co. now owns 17,011 shares of the financial services provider’s stock valued at $3,360,000 after acquiring an additional 7,028 shares in the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Price Performance

NYSE:AIZ opened at $211.95 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $10.70 billion, a P/E ratio of 15.35 and a beta of 0.55. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $230.55. The business’s 50-day moving average is $213.90 and its 200 day moving average is $201.58.

Assurant (NYSE:AIZ) last posted its earnings results on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. The company had revenue of $2.42 billion for the quarter. Assurant had a return on equity of 16.47% and a net margin of 5.83%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. On average, equities research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Assurant’s payout ratio is presently 23.17%.

Insiders Place Their Bets

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $204.96, for a total transaction of $194,712.00. Following the sale, the chief accounting officer directly owned 3,135 shares of the company’s stock, valued at $642,549.60. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jay Rosenblum sold 3,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total value of $813,267.00. Following the sale, the executive vice president directly owned 7,875 shares in the company, valued at $1,642,173.75. The trade was a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,125 shares of company stock valued at $5,917,925 over the last ninety days. 0.51% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on AIZ. Morgan Stanley boosted their price objective on Assurant from $230.00 to $232.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Zacks Research downgraded Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Piper Sandler boosted their price objective on Assurant from $238.00 to $248.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. UBS Group boosted their price objective on Assurant from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods boosted their price objective on Assurant from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.00.

Assurant Company Profile

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.