5,275 Shares in Assurant, Inc. (NYSE:AIZ) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the fourth quarter, HoldingsChannel reports. The fund bought 5,275 shares of the financial services provider’s stock, valued at approximately $1,125,000.

Several other hedge funds also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Assurant by 1.0% in 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 acquiring an additional 79 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Assurant by 21.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,362 shares of the financial services provider’s stock valued at $1,072,000 after purchasing an additional 934 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Assurant by 54.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 4,450 shares of the financial services provider’s stock worth $885,000 after purchasing an additional 1,570 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Assurant by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 6,044 shares of the financial services provider’s stock worth $1,201,000 after buying an additional 405 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Assurant by 0.7% in the third quarter. Nisa Investment Advisors LLC now owns 29,226 shares of the financial services provider’s stock valued at $5,812,000 after buying an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

Assurant Trading Down 0.3 %

AIZ stock opened at $206.27 on Thursday. 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 company has a market cap of $10.48 billion, a price-to-earnings ratio of 14.26 and a beta of 0.62. The business has a fifty day simple moving average of $209.63 and a 200-day simple moving average of $204.59. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55.

Assurant (NYSE:AIZ) last announced its quarterly 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 return on equity of 17.25% and a net margin of 6.40%. On average, equities research analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.55%. Assurant’s payout ratio is 22.11%.

Analysts Set New Price Targets

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

About Assurant

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.