Hsbc Holdings PLC Acquires 9,433 Shares of Assurant, Inc. $AIZ

Hsbc Holdings PLC increased its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 13.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,491 shares of the financial services provider's stock after purchasing an additional 9,433 shares during the period. Hsbc Holdings PLC owned approximately 0.16% of Assurant worth $19,184,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ascent Group LLC boosted its holdings in shares of Assurant by 0.8% during the 4th quarter. Ascent Group LLC now owns 5,339 shares of the financial services provider's stock worth $1,286,000 after buying an additional 43 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Assurant by 0.3% during the 4th quarter. ProShare Advisors LLC now owns 17,064 shares of the financial services provider's stock worth $4,110,000 after buying an additional 47 shares during the period. Cresset Asset Management LLC increased its stake in shares of Assurant by 5.4% in the 2nd quarter. Cresset Asset Management LLC now owns 1,075 shares of the financial services provider's stock valued at $212,000 after acquiring an additional 55 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Assurant by 2.6% in the 4th quarter. Fifth Third Bancorp now owns 2,217 shares of the financial services provider's stock valued at $534,000 after acquiring an additional 57 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Assurant by 4.3% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,541 shares of the financial services provider's stock valued at $371,000 after acquiring an additional 63 shares during the period. 92.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Assurant

In related news, EVP Keith Meier sold 25,000 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the transaction, the executive vice president owned 18,552 shares of the company's stock, valued at approximately $4,717,959.12. This trade represents a 57.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 2,000 shares of Assurant stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total value of $511,360.00. Following the transaction, the chief accounting officer owned 2,741 shares of the company's stock, valued at $700,818.88. This trade represents a 42.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 36,000 shares of company stock valued at $9,211,620. Insiders own 0.54% of the company's stock.

Assurant Stock Performance

NYSE AIZ opened at $264.21 on Thursday. The company has a fifty day simple moving average of $246.73 and a 200 day simple moving average of $235.01. Assurant, Inc. has a 12-month low of $183.39 and a 12-month high of $268.67. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a market cap of $13.09 billion, a P/E ratio of 13.51 and a beta of 0.56.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, beating analysts' consensus estimates of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the business posted $5.79 EPS. Assurant's quarterly revenue was up 11.3% on a year-over-year basis. Sell-side analysts predict that Assurant, Inc. will post 21.04 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 8th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $3.52 annualized dividend and a dividend yield of 1.3%. Assurant's payout ratio is presently 18.01%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AIZ shares. Piper Sandler reissued an "overweight" rating on shares of Assurant in a research note on Monday. Weiss Ratings upgraded shares of Assurant from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, June 9th. Royal Bank Of Canada set a $310.00 price objective on shares of Assurant in a research report on Wednesday, June 17th. Morgan Stanley raised shares of Assurant from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $240.00 to $285.00 in a research report on Thursday, May 14th. Finally, Truist Financial raised their target price on Assurant from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $283.57.

About Assurant

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.

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