Toronto Dominion Bank Acquires 1,711 Shares of Assurant, Inc. (NYSE:AIZ)

Toronto Dominion Bank lifted its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,520 shares of the financial services provider's stock after purchasing an additional 1,711 shares during the period. Toronto Dominion Bank owned about 0.05% of Assurant worth $5,868,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AIZ. Bank of New York Mellon Corp lifted its position in shares of Assurant by 36.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock worth $708,016,000 after purchasing an additional 891,292 shares during the last quarter. Norges Bank bought a new position in shares of Assurant during the fourth quarter worth about $143,475,000. Millennium Management LLC lifted its position in shares of Assurant by 1,499.1% during the fourth quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider's stock worth $73,375,000 after purchasing an additional 322,608 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Assurant during the fourth quarter worth about $34,365,000. Finally, Northern Trust Corp lifted its position in shares of Assurant by 23.1% during the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock worth $177,370,000 after purchasing an additional 156,364 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Assurant Stock Performance

Shares of NYSE:AIZ traded up $3.03 during trading hours on Friday, hitting $202.99. The stock had a trading volume of 5,100,348 shares, compared to its average volume of 419,839. The stock's fifty day simple moving average is $196.01 and its 200 day simple moving average is $206.79. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The firm has a market capitalization of $10.33 billion, a price-to-earnings ratio of 14.03 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, beating analysts' consensus estimates 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%. The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the business earned $4.78 earnings per share. Sell-side analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $3.20 annualized dividend and a yield of 1.58%. Assurant's dividend payout ratio is 24.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AIZ shares. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $224.00 to $225.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective on the stock in a research note on Thursday, April 10th. Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley set a $217.00 price objective on shares of Assurant and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Finally, Truist Financial increased their price objective on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Assurant has an average rating of "Moderate Buy" and an average target price of $228.67.

Insiders Place Their Bets

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $201.93, for a total value of $201,930.00. Following the sale, the executive vice president now directly owns 11,775 shares in the company, valued at $2,377,725.75. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.51% of the company's stock.

About Assurant

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.