Assurant, Inc. (NYSE:AIZ) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Assurant, Inc. (NYSE:AIZ) by 0.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 449,153 shares of the financial services provider’s stock after selling 494 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.87% of Assurant worth $89,319,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AIZ. Innealta Capital LLC acquired a new position in Assurant in the second quarter valued at approximately $31,000. Richardson Financial Services Inc. lifted its stake in shares of Assurant by 62.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 77 shares during the period. Huntington National Bank boosted its holdings in Assurant by 509.4% during the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after buying an additional 163 shares in the last quarter. Family Firm Inc. acquired a new stake in Assurant during the second quarter valued at $51,000. Finally, Capital Performance Advisors LLP acquired a new stake in Assurant during the third quarter valued at $56,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analyst Upgrades and Downgrades

AIZ has been the subject of a number of analyst reports. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Truist Financial increased their price target on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America boosted their price objective on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Piper Sandler increased their target price on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, UBS Group boosted their price target on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.20.

Assurant Trading Up 0.5 %

Shares of Assurant stock opened at $228.62 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The stock’s 50 day simple moving average is $201.48 and its 200-day simple moving average is $185.14. The stock has a market cap of $11.73 billion, a P/E ratio of 16.31 and a beta of 0.57. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the previous year, the company posted $4.29 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that Assurant, Inc. will post 15.41 EPS for the current fiscal year.

Assurant Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $0.80 dividend. This is a boost from Assurant’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 9th. This represents a $3.20 annualized dividend and a dividend yield of 1.40%. Assurant’s dividend payout ratio is 22.82%.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares in the company, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.53% of the company’s stock.

Assurant Company 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.