Assurant, Inc. (NYSE:AIZ) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its stake in shares of Assurant, Inc. (NYSE:AIZ) by 64.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,753 shares of the financial services provider’s stock after selling 54,515 shares during the quarter. Jane Street Group LLC owned approximately 0.06% of Assurant worth $5,917,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC lifted its position in shares of Assurant by 11,480.4% during the third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock worth $92,460,000 after purchasing an additional 460,937 shares during the last quarter. AQR Capital Management LLC raised its stake in Assurant by 32.5% during the second quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock valued at $173,179,000 after buying an additional 255,471 shares in the last quarter. International Assets Investment Management LLC bought a new position in Assurant during the 3rd quarter worth approximately $284,730,000. Point72 Asset Management L.P. acquired a new position in shares of Assurant in the 3rd quarter worth approximately $26,630,000. Finally, TD Asset Management Inc increased its holdings in shares of Assurant by 20.4% in the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after acquiring an additional 96,021 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AIZ has been the topic of several research analyst reports. Morgan Stanley initiated coverage on Assurant in a research note on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price objective on the stock. UBS Group increased their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Truist Financial lifted their price target on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Bank of America raised their target price on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $229.50.

Assurant Stock Up 0.1 %

Assurant stock opened at $217.83 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The company has a 50-day simple moving average of $208.10 and a 200-day simple moving average of $189.64. The firm has a market capitalization of $11.17 billion, a P/E ratio of 15.54 and a beta of 0.61.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. Assurant’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.29 EPS. As a group, equities analysts expect that Assurant, Inc. will post 15.38 earnings per share for the current year.

Assurant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, December 9th. This represents a $3.20 annualized dividend and a yield of 1.47%. This is an increase from Assurant’s previous quarterly dividend of $0.72. Assurant’s payout ratio is presently 22.82%.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the transaction, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

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.