Assurant, Inc. (NYSE:AIZ) Shares Sold by Lyrical Asset Management LP

Lyrical Asset Management LP reduced its position in Assurant, Inc. (NYSE:AIZ) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 728,810 shares of the financial services provider’s stock after selling 1,723 shares during the period. Assurant comprises approximately 2.3% of Lyrical Asset Management LP’s holdings, making the stock its 21st biggest holding. Lyrical Asset Management LP’s holdings in Assurant were worth $155,397,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in Assurant by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider’s stock valued at $1,657,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. grew its holdings in Assurant by 28.6% in the 4th quarter. Blue Trust Inc. now owns 845 shares of the financial services provider’s stock valued at $168,000 after buying an additional 188 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Assurant by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider’s stock worth $34,079,000 after acquiring an additional 24,887 shares during the period. Atria Wealth Solutions Inc. purchased a new position in shares of Assurant during the 4th quarter worth about $329,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Assurant in the fourth quarter worth approximately $254,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

AIZ has been the subject of several research analyst reports. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods upgraded Assurant from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $212.00 to $230.00 in a report on Thursday, February 20th. Finally, Truist Financial lifted their target price on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.17.

Assurant Stock Down 8.0 %

Shares of Assurant stock opened at $187.14 on Friday. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The stock has a market cap of $9.51 billion, a price-to-earnings ratio of 12.93 and a beta of 0.53. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The company has a fifty day moving average price of $208.45 and a 200 day moving average price of $207.65.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Equities research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, February 3rd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.71%. Assurant’s payout ratio is currently 22.11%.

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.