Assurant, Inc. (NYSE:AIZ) Position Cut by TD Asset Management Inc.

TD Asset Management Inc. decreased its position in shares of Assurant, Inc. (NYSE:AIZ) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 499,818 shares of the financial services provider’s stock after selling 37,727 shares during the quarter. TD Asset Management Inc. owned about 0.97% of Assurant worth $106,571,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Assurant by 36.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider’s stock valued at $708,016,000 after purchasing an additional 891,292 shares during the period. FMR LLC raised its holdings in shares of Assurant by 6.0% during the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock valued at $231,392,000 after buying an additional 65,874 shares during the last quarter. Amundi boosted its position in shares of Assurant by 45.0% during the fourth quarter. Amundi now owns 281,199 shares of the financial services provider’s stock worth $57,764,000 after buying an additional 87,323 shares during the period. World Investment Advisors LLC bought a new position in Assurant in the 3rd quarter worth approximately $48,430,000. Finally, Barclays PLC grew its holdings in Assurant by 48.4% in the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock worth $38,243,000 after buying an additional 62,696 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on AIZ shares. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial lifted their price objective on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods upgraded shares of Assurant from a “market perform” rating to an “outperform” rating and increased their target price for the company from $212.00 to $230.00 in a research report on Thursday, February 20th. Finally, Morgan Stanley assumed coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and an average price target of $234.17.

Assurant Price Performance

NYSE:AIZ opened at $210.83 on Wednesday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $208.96 and its 200 day moving average price is $206.96. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55. The firm has a market cap of $10.71 billion, a P/E ratio of 14.57 and a beta of 0.61.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. As a group, sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.52%. Assurant’s dividend payout ratio is currently 22.11%.

Insider Activity

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the sale, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

Assurant 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.