First Manhattan CO. LLC. Has $99.87 Million Stock Position in Assurant, Inc. $AIZ

First Manhattan CO. LLC. raised its holdings in Assurant, Inc. (NYSE:AIZ) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 414,642 shares of the financial services provider’s stock after acquiring an additional 14,192 shares during the period. First Manhattan CO. LLC.’s holdings in Assurant were worth $99,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Assurant by 15.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 124,993 shares of the financial services provider’s stock valued at $27,076,000 after buying an additional 16,388 shares during the last quarter. GW&K Investment Management LLC grew its holdings in Assurant by 25.6% in the 3rd quarter. GW&K Investment Management LLC now owns 274,862 shares of the financial services provider’s stock valued at $59,537,000 after buying an additional 56,009 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Assurant by 16.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 185,949 shares of the financial services provider’s stock valued at $44,786,000 after buying an additional 26,678 shares during the last quarter. Clark Capital Management Group Inc. grew its holdings in Assurant by 2.1% in the 3rd quarter. Clark Capital Management Group Inc. now owns 310,802 shares of the financial services provider’s stock valued at $67,320,000 after buying an additional 6,277 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in Assurant by 603.6% in the 3rd quarter. HighTower Advisors LLC now owns 7,142 shares of the financial services provider’s stock valued at $1,547,000 after buying an additional 6,127 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Price Performance

Shares of NYSE:AIZ opened at $262.33 on Thursday. Assurant, Inc. has a 1-year low of $183.39 and a 1-year high of $265.66. The firm has a market capitalization of $13.00 billion, a PE ratio of 13.42 and a beta of 0.56. The business’s 50 day moving average is $242.62 and its 200-day moving average is $233.66. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, topping the consensus estimate of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the firm earned $5.79 EPS. Assurant’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts predict that Assurant, Inc. will post 21.04 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 8th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a $3.52 annualized dividend and a yield of 1.3%. Assurant’s payout ratio is currently 18.01%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AIZ. Royal Bank Of Canada set a $310.00 target price on Assurant in a report on Wednesday. Weiss Ratings raised Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, June 9th. Keefe, Bruyette & Woods lifted their price objective on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. UBS Group lifted their price objective on Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Truist Financial lifted their price objective on Assurant from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $283.57.

Insider Buying and Selling

In related news, EVP Jay Rosenblum sold 2,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $251.77, for a total value of $503,540.00. Following the sale, the executive vice president owned 12,764 shares of the company’s stock, valued at $3,213,592.28. The trade was a 13.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Subhashish Sengupta sold 1,880 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $210.53, for a total value of $395,796.40. Following the completion of the sale, the executive vice president directly owned 2,895 shares in the company, valued at approximately $609,484.35. This represents a 39.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,630 shares of company stock worth $7,926,681 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.