Hsbc Holdings PLC Has $20.54 Million Stock Holdings in Assurant, Inc. $AIZ

Hsbc Holdings PLC increased its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 5.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 76,366 shares of the financial services provider's stock after acquiring an additional 3,734 shares during the period. Hsbc Holdings PLC owned about 0.15% of Assurant worth $20,542,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Assurant by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider's stock valued at $1,213,968,000 after purchasing an additional 29,974 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Assurant in the 2nd quarter worth approximately $1,345,211,000. Dimensional Fund Advisors LP lifted its position in shares of Assurant by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider's stock worth $245,121,000 after buying an additional 205,767 shares during the period. Bank of America Corp DE bought a new position in shares of Assurant during the 2nd quarter worth approximately $269,635,000. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in Assurant by 7.7% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 697,555 shares of the financial services provider's stock valued at $168,006,000 after buying an additional 49,698 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AIZ shares. UBS Group increased their price objective on Assurant from $274.00 to $331.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of Assurant from a "buy (b+)" rating to a "buy (a-)" rating in a report on Tuesday, August 11th. Wall Street Zen cut shares of Assurant from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Royal Bank Of Canada set a $310.00 price target on shares of Assurant in a report on Wednesday, June 17th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Assurant from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $327.14.

Insider Buying and Selling

In related news, EVP Robert Lonergan sold 7,000 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $262.71, for a total value of $1,838,970.00. Following the completion of the transaction, the executive vice president owned 27,374 shares in the company, valued at $7,191,423.54. The trade was a 20.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Biju Nair sold 3,931 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $302.46, for a total value of $1,188,970.26. Following the transaction, the executive vice president directly owned 24,247 shares in the company, valued at approximately $7,333,747.62. This represents a 13.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.54% of the company's stock.

Assurant Price Performance

Shares of AIZ stock opened at $281.17 on Wednesday. The stock's fifty day moving average is $281.56 and its 200-day moving average is $252.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $13.87 billion, a PE ratio of 13.43 and a beta of 0.54. Assurant, Inc. has a 52 week low of $205.01 and a 52 week high of $303.94.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share for the quarter, beating analysts' consensus estimates of $5.17 by $1.24. The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $5.56 earnings per share. Equities research analysts expect that Assurant, Inc. will post 22.05 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, August 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.3%. Assurant's dividend payout ratio (DPR) is currently 16.81%.

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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