Assurant, Inc. $AIZ Shares Sold by Geode Capital Management LLC

by · The Cerbat Gem

Geode Capital Management LLC decreased its position in shares of Assurant, Inc. (NYSE:AIZ – Free Report) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,395,443 shares of the financial services provider’s stock after selling 29,872 shares during the period. Geode Capital Management LLC’s holdings in Assurant were worth $275,720,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. raised its stake in shares of Assurant by 1,222.0% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 356,064 shares of the financial services provider’s stock worth $70,319,000 after buying an additional 329,131 shares in the last quarter. Invesco Ltd. boosted its stake in Assurant by 28.0% during the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider’s stock valued at $310,285,000 after buying an additional 323,573 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Assurant by 8.3% during the second quarter. Bank of New York Mellon Corp now owns 4,051,114 shares of the financial services provider’s stock worth $800,054,000 after acquiring an additional 310,455 shares during the period. Nuveen LLC acquired a new position in Assurant during the first quarter worth about $28,095,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in Assurant by 73.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 279,268 shares of the financial services provider’s stock worth $58,577,000 after acquiring an additional 118,096 shares in the last quarter. 92.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AIZ. Stephens initiated coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an “overweight” rating for the company. Benchmark initiated coverage on shares of Assurant in a research note on Tuesday, August 12th. They set a “buy” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of Assurant in a report on Thursday. BMO Capital Markets assumed coverage on Assurant in a report on Tuesday, August 12th. They issued an “outperform” rating and a $238.00 price target on the stock. Finally, Morgan Stanley increased 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. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $244.17.

Get Our Latest Stock Report on AIZ

Assurant Stock Performance

Assurant stock opened at $228.62 on Monday. Assurant, Inc. has a fifty-two week low of $174.97 and a fifty-two week high of $232.02. The firm’s 50 day simple moving average is $214.97 and its 200-day simple moving average is $204.73. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $11.45 billion, a P/E ratio of 16.55 and a beta of 0.56.

Assurant (NYSE:AIZ – Get Free Report) last posted its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The firm had revenue of $2.42 billion during the quarter. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. As a group, equities research analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 1st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Assurant’s previous quarterly dividend of $0.80. Assurant’s dividend payout ratio (DPR) is presently 19.48%.

Insider Buying and Selling

In other Assurant news, CEO Keith Demmings sold 13,725 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the transaction, the chief executive officer directly owned 84,647 shares in the company, valued at $18,666,356.44. This trade represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 22,275 shares of company stock valued at $4,909,946 over the last ninety days. Insiders own 0.51% of the company’s stock.

About Assurant

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding AIZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Assurant, Inc. (NYSE:AIZ – Free Report).