Assurant, Inc. (NYSE:AIZ) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its holdings in Assurant, Inc. (NYSE:AIZ) by 5.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,150 shares of the financial services provider’s stock after selling 710 shares during the quarter. Corebridge Financial Inc.’s holdings in Assurant were worth $2,591,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. True Wealth Design LLC acquired a new stake in Assurant in the third quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its stake in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 75 shares during the period. Jones Financial Companies Lllp boosted its holdings in Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after buying an additional 103 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its position in Assurant by 503.1% during the fourth quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider’s stock worth $41,000 after buying an additional 161 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Stock Performance

NYSE AIZ opened at $209.96 on Tuesday. 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 stock has a market cap of $10.66 billion, a price-to-earnings ratio of 14.51 and a beta of 0.61. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The business has a fifty day moving average of $208.90 and a 200-day moving average of $207.48.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, February 3rd were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.52%. 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 value of $604,500.00. Following the completion of the sale, the executive vice president now owns 17,708 shares in the company, valued at $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 available through this link. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.