PNC Financial Services Group Inc. Has $1.66 Million Stock Holdings in Assurant, Inc. (NYSE:AIZ)

PNC Financial Services Group Inc. increased its position in Assurant, Inc. (NYSE:AIZ) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,773 shares of the financial services provider’s stock after acquiring an additional 100 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Assurant were worth $1,657,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings 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 worth $708,016,000 after acquiring an additional 891,292 shares during the last quarter. FMR LLC raised its position in Assurant by 6.0% during the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after purchasing an additional 65,874 shares during the last quarter. Mizuho Securities USA LLC raised its position in Assurant by 11,480.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock worth $92,460,000 after purchasing an additional 460,937 shares during the last quarter. World Investment Advisors LLC acquired a new position in Assurant during the 3rd quarter worth about $48,430,000. Finally, Barclays PLC grew its position in shares of Assurant by 48.4% in the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock valued at $38,243,000 after buying an additional 62,696 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Analysts Set New Price Targets

AIZ has been the topic of a number of recent analyst reports. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $212.00 to $230.00 in a research note on Thursday, February 20th. Morgan Stanley initiated coverage on shares of Assurant in a research note on Thursday, December 5th. They set an “equal weight” rating and a $251.00 target price for the company. Finally, Truist Financial upped their price target on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.17.

Assurant Trading Up 3.6 %

AIZ opened at $211.44 on Friday. The company has a market cap of $10.74 billion, a P/E ratio of 14.61 and a beta of 0.61. The company has a fifty day moving average price of $207.93 and a two-hundred day moving average price of $206.09. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

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

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.51%. The ex-dividend date is Monday, February 3rd. Assurant’s payout ratio is currently 22.11%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

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.