Assurant, Inc. (NYSE:AIZ) Shares Bought by World Investment Advisors

World Investment Advisors lifted its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 21.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,185 shares of the financial services provider's stock after purchasing an additional 1,595 shares during the quarter. World Investment Advisors' holdings in Assurant were worth $1,927,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AIZ. Norges Bank purchased a new stake in Assurant in the fourth quarter valued at approximately $143,475,000. Millennium Management LLC grew its stake in shares of Assurant by 1,499.1% during the 4th quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider's stock worth $73,375,000 after purchasing an additional 322,608 shares during the period. GAMMA Investing LLC grew its stake in shares of Assurant by 20,818.1% during the 1st quarter. GAMMA Investing LLC now owns 308,123 shares of the financial services provider's stock worth $646,290,000 after purchasing an additional 306,650 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Assurant during the 4th quarter worth approximately $34,365,000. Finally, Northern Trust Corp grew its stake in shares of Assurant by 23.1% during the 4th quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock worth $177,370,000 after purchasing an additional 156,364 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Trading Down 1.1%

Shares of AIZ traded down $2.21 during trading on Monday, reaching $191.26. 462,616 shares of the company traded hands, compared to its average volume of 428,799. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The stock has a market cap of $9.73 billion, a PE ratio of 14.91 and a beta of 0.59. The stock has a 50-day simple moving average of $197.76 and a 200-day simple moving average of $202.64. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.40.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, beating analysts' consensus estimates of $2.78 by $0.61. Assurant had a net margin of 5.55% and a return on equity of 15.49%. The company had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the firm posted $4.78 EPS. The company's quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Monday, June 9th. Assurant's dividend payout ratio (DPR) is presently 24.94%.

Insider Buying and Selling at Assurant

In related news, EVP Jay Rosenblum sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $201.93, for a total transaction of $201,930.00. Following the transaction, the executive vice president owned 11,775 shares in the company, valued at $2,377,725.75. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AIZ shares. Keefe, Bruyette & Woods raised their target price on Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Wall Street Zen cut shares of Assurant from a "buy" rating to a "hold" rating in a research note on Saturday. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley set a $217.00 price target on shares of Assurant and gave the company an "equal weight" rating in a research note on Monday, May 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $228.67.

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.