Cresset Asset Management LLC Has $239,000 Holdings in Assurant, Inc. (NYSE:AIZ)

Cresset Asset Management LLC lessened its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 73.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,121 shares of the financial services provider's stock after selling 3,154 shares during the period. Cresset Asset Management LLC's holdings in Assurant were worth $239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AIZ. Crestline Management LP acquired a new stake in Assurant during the 4th quarter worth approximately $1,510,000. Cetera Investment Advisers increased its position in Assurant by 8.9% during the 4th quarter. Cetera Investment Advisers now owns 18,583 shares of the financial services provider's stock worth $3,962,000 after buying an additional 1,514 shares during the period. Bridgefront Capital LLC acquired a new stake in shares of Assurant during the fourth quarter worth $385,000. Captrust Financial Advisors boosted its position in shares of Assurant by 15.2% in the fourth quarter. Captrust Financial Advisors now owns 6,932 shares of the financial services provider's stock valued at $1,478,000 after acquiring an additional 917 shares during the period. Finally, Baird Financial Group Inc. boosted its position in shares of Assurant by 1.4% in the fourth quarter. Baird Financial Group Inc. now owns 6,984 shares of the financial services provider's stock valued at $1,489,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AIZ shares. Morgan Stanley set a $217.00 price target on shares of Assurant and gave the stock an "equal weight" rating in a research report on Monday. Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $224.00 to $225.00 and gave the stock an "outperform" rating in a report on Monday. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target for the company in a research report on Thursday, April 10th. Finally, Truist Financial increased their price target on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $228.67.

Insider Activity

In other news, EVP Jay Rosenblum sold 1,000 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the transaction, the executive vice president now owns 11,775 shares of the company's stock, valued at approximately $2,377,725.75. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company's stock.

Assurant Price Performance

Assurant stock traded up $1.22 during trading hours on Friday, reaching $194.24. 120,125 shares of the stock were exchanged, compared to its average volume of 395,504. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a market cap of $9.88 billion, a P/E ratio of 13.42 and a beta of 0.59. The stock has a 50 day moving average of $197.42 and a two-hundred day moving average of $207.09.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.61. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.06 billion. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The firm's quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.78 EPS. Equities analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Monday, June 9th. Assurant's dividend payout ratio is presently 24.94%.

Assurant Company 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.