Nuveen Asset Management LLC Has $29.42 Million Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Nuveen Asset Management LLC cut its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,975 shares of the financial services provider's stock after selling 27,691 shares during the period. Nuveen Asset Management LLC owned about 0.27% of Assurant worth $29,419,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Cascade Investment Advisors Inc. boosted its position in Assurant by 0.7% during the 4th quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider's stock worth $1,593,000 after buying an additional 50 shares during the period. LRI Investments LLC lifted its holdings in Assurant by 14.0% during the 4th quarter. LRI Investments LLC now owns 553 shares of the financial services provider's stock worth $118,000 after buying an additional 68 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock worth $28,000 after buying an additional 75 shares during the period. CIBC Asset Management Inc lifted its holdings in Assurant by 1.1% during the 4th quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider's stock worth $1,642,000 after buying an additional 84 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Assurant by 30.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 364 shares of the financial services provider's stock worth $78,000 after buying an additional 84 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Jay Rosenblum sold 1,000 shares of the company'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 now directly owns 11,775 shares of the company's stock, valued at approximately $2,377,725.75. This represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is owned by company insiders.

Assurant Stock Down 4.0%

Shares of NYSE:AIZ opened at $192.71 on Thursday. The company has a market capitalization of $9.80 billion, a price-to-earnings ratio of 13.32 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The business's 50-day moving average is $197.85 and its 200-day moving average is $207.07. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55.

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

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.66%. Assurant's dividend payout ratio is presently 24.94%.

Wall Street Analyst Weigh In

AIZ has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price on Assurant from $224.00 to $225.00 and gave the stock an "outperform" rating in a report on Monday. Truist Financial lifted their target price on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target on the stock in a research report on Thursday, April 10th. StockNews.com upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley boosted their price target on shares of Assurant from $200.00 to $217.00 and gave the stock an "equal weight" rating in a research report on Monday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.

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