Lbp Am Sa Sells 25,146 Shares of Assurant, Inc. $AIZ

Key Points

• Lbp Am Sa cut its stake in Assurant by 60.9% in Q4, selling 25,146 shares and leaving 16,150 shares valued at $3.89 million.
• Assurant beat Q4 expectations with EPS of $5.61 versus a $5.55 consensus and reported revenue of $3.35 billion (up 7.9% year-over-year); the company has a market cap of $11.33 billion and a P/E of 13.43.
• The company pays a quarterly dividend of $0.88 ($3.52 annual, ~1.5% yield), insiders sold 2,650 shares worth $558,331 last quarter, and analysts' consensus rating is "Moderate Buy" with a $256.83 price target.

Lbp Am Sa lowered its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 60.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,150 shares of the financial services provider's stock after selling 25,146 shares during the period. Lbp Am Sa's holdings in Assurant were worth $3,890,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in Assurant by 72.6% during the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider's stock worth $27,000 after purchasing an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in Assurant during the second quarter worth about $27,000. Smartleaf Asset Management LLC lifted its stake in shares of Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 59 shares during the last quarter. BOKF NA bought a new stake in shares of Assurant in the 3rd quarter valued at about $32,000. Finally, Root Financial Partners LLC bought a new stake in shares of Assurant in the 3rd quarter valued at about $34,000. Institutional investors own 92.65% of the company's stock.

Assurant Stock Up 1.5%

Shares of NYSE:AIZ opened at $227.94 on Friday. Assurant, Inc. has a 1 year low of $181.75 and a 1 year high of $246.31. The company has a market cap of $11.33 billion, a PE ratio of 13.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The stock's 50-day moving average is $221.09 and its 200 day moving average is $225.40.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.55 by $0.06. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the business earned $4.79 EPS. Assurant's revenue was up 7.9% compared to the same quarter last year. Sell-side analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.88 per share. The ex-dividend date was Tuesday, February 17th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.5%. Assurant's dividend payout ratio is 20.74%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets lowered their target price on Assurant from $255.00 to $246.00 and set an "outperform" rating for the company in a research note on Thursday, February 12th. Morgan Stanley lowered their target price on Assurant from $248.00 to $240.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. Wall Street Zen lowered Assurant from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Piper Sandler boosted their target price on Assurant from $252.00 to $264.00 and gave the company an "overweight" rating in a research note on Friday, December 19th. Finally, Truist Financial boosted their target price on Assurant from $265.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $256.83.

Insider Buying and Selling

In other Assurant news, CAO Dimitry Dirienzo sold 750 shares of the company's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the transaction, the chief accounting officer owned 4,741 shares in the company, valued at approximately $1,000,256.18. This represents a 13.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Subhashish Sengupta sold 1,880 shares of the company's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.53, for a total value of $395,796.40. Following the completion of the sale, the executive vice president owned 2,895 shares in the company, valued at $609,484.35. The trade was a 39.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,650 shares of company stock worth $558,331 in the last quarter. Company insiders own 0.51% of the company's stock.

Assurant Company Profile

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.

Want to see what other hedge funds are holding AIZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Assurant, Inc. (NYSE:AIZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.