DnB Asset Management AS Has $2.08 Million Holdings in Assurant, Inc. (NYSE:AIZ)

DnB Asset Management AS trimmed its position in shares of Assurant, Inc. (NYSE:AIZ) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,770 shares of the financial services provider’s stock after selling 1,608 shares during the period. DnB Asset Management AS’s holdings in Assurant were worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIZ. Bank of New York Mellon Corp increased its stake in shares of 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 purchasing an additional 891,292 shares during the last quarter. FMR LLC increased its position in Assurant by 6.0% during the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after buying an additional 65,874 shares during the last quarter. Norges Bank bought a new stake in Assurant in the fourth quarter valued at approximately $143,475,000. Amundi lifted its position in shares of Assurant by 45.0% in the fourth quarter. Amundi now owns 281,199 shares of the financial services provider’s stock valued at $57,764,000 after buying an additional 87,323 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new stake in shares of Assurant in the third quarter valued at approximately $48,430,000. 92.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 in the company, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is owned by company insiders.

Assurant Price Performance

NYSE:AIZ opened at $211.14 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 14.59 and a beta of 0.61. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The firm’s 50-day simple moving average is $208.93 and its 200 day simple moving average is $207.61.

Assurant (NYSE:AIZ) last announced its earnings results 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 net margin of 6.40% and a return on equity of 17.25%. As a group, sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, February 3rd were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Monday, February 3rd. Assurant’s dividend payout ratio (DPR) is currently 22.11%.

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.