Northwest Bancshares Inc. lessened its position in Assurant, Inc. (NYSE:AIZ) by 10.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,298 shares of the financial services provider’s stock after selling 150 shares during the period. Northwest Bancshares Inc.’s holdings in Assurant were worth $205,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. FORA Capital LLC acquired a new stake in Assurant in the second quarter valued at approximately $66,000. Koshinski Asset Management Inc. bought a new position in shares of Assurant in the third quarter valued at approximately $73,000. Advisory Services Network LLC bought a new position in shares of Assurant in the second quarter valued at approximately $78,000. Captrust Financial Advisors lifted its holdings in shares of Assurant by 1,095.7% in the first quarter. Captrust Financial Advisors now owns 550 shares of the financial services provider’s stock valued at $78,000 after purchasing an additional 504 shares in the last quarter. Finally, PGGM Investments bought a new position in shares of Assurant in the second quarter valued at approximately $177,000. 96.61% of the stock is owned by hedge funds and other institutional investors.
Shares of Assurant stock opened at $161.92 on Thursday. The business’s fifty day simple moving average is $161.53 and its 200 day simple moving average is $160.92. The firm has a market capitalization of $9.23 billion, a P/E ratio of 7.03, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64. Assurant, Inc. has a 12 month low of $121.55 and a 12 month high of $172.22. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.38.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 20th. Shareholders of record on Monday, November 29th will be given a $0.68 dividend. This is an increase from Assurant’s previous quarterly dividend of $0.66. This represents a $2.72 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, November 26th. Assurant’s dividend payout ratio (DPR) is currently 11.47%.
In other Assurant news, CEO Alan B. Colberg sold 13,400 shares of the firm’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $165.43, for a total value of $2,216,762.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.78% of the company’s stock.
A number of research analysts have recently weighed in on AIZ shares. Piper Sandler started coverage on Assurant in a report on Thursday, October 14th. They issued an “overweight” rating and a $200.00 target price on the stock. Morgan Stanley raised their target price on Assurant from $184.00 to $191.00 and gave the company an “overweight” rating in a report on Thursday, November 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Assurant currently has a consensus rating of “Buy” and an average target price of $184.34.
Assurant, Inc engages in the provision of risk management solutions. It operates through the following segments: Global Housing, Global Lifestyle and Global Preneed. The Global Housing segment provides lender-placed homeowners, multi-family housing and mortgage solutions. The Global Lifestyle segment offers mobile device protection products, related & extended service products and related services for consumer electronics & appliances, vehicle protection services, and credit insurance.
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