Forte Capital LLC ADV Reduces Position in Assurant, Inc. (NYSE:AIZ)

by · The Markets Daily

Forte Capital LLC ADV cut its holdings in shares of Assurant, Inc. (NYSE:AIZ – Free Report) by 3.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,540 shares of the financial services provider’s stock after selling 58 shares during the quarter. Forte Capital LLC ADV’s holdings in Assurant were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AIZ. Blue Trust Inc. boosted its position in shares of Assurant by 86.1% during the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $131,000 after buying an additional 304 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Assurant by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,615 shares of the financial services provider’s stock valued at $1,514,000 after buying an additional 79 shares during the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of Assurant during the third quarter valued at $681,000. International Assets Investment Management LLC purchased a new stake in shares of Assurant during the third quarter valued at $284,730,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Assurant by 45.2% during the third quarter. Assenagon Asset Management S.A. now owns 117,079 shares of the financial services provider’s stock valued at $23,282,000 after buying an additional 36,458 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Report on AIZ

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Assurant Stock Down 0.6 %

NYSE AIZ opened at $199.73 on Friday. The stock’s 50-day moving average price is $210.44 and its 200-day moving average price is $203.47. The company has a quick ratio of 0.42, a current ratio of 0.64 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The company has a market capitalization of $10.24 billion, a P/E ratio of 13.80 and a beta of 0.62.

Assurant (NYSE:AIZ – Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, equities research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s dividend payout ratio (DPR) is currently 22.11%.

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

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