CIBC Asset Management Inc Raises Position in Assurant, Inc. (NYSE:AIZ)

CIBC Asset Management Inc boosted its position in shares of Assurant, Inc. (NYSE:AIZ) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,699 shares of the financial services provider’s stock after buying an additional 84 shares during the period. CIBC Asset Management Inc’s holdings in Assurant were worth $1,642,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. WBH Advisory Inc. purchased a new stake in shares of Assurant during the fourth quarter worth approximately $213,000. Principal Securities Inc. boosted its stake in Assurant by 10.2% during the 4th quarter. Principal Securities Inc. now owns 5,719 shares of the financial services provider’s stock worth $1,219,000 after purchasing an additional 528 shares during the last quarter. Savant Capital LLC boosted its stake in Assurant by 5.5% during the 4th quarter. Savant Capital LLC now owns 3,493 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 183 shares during the last quarter. Lecap Asset Management Ltd. grew its holdings in shares of Assurant by 39.9% during the fourth quarter. Lecap Asset Management Ltd. now owns 4,792 shares of the financial services provider’s stock worth $1,022,000 after buying an additional 1,367 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Assurant in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Stock Down 0.6 %

Shares of NYSE AIZ opened at $199.73 on Friday. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The company has a market capitalization of $10.24 billion, a P/E ratio of 13.80 and a beta of 0.62. The company has a 50 day simple moving average of $210.44 and a 200-day simple moving average of $203.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.64 and a quick ratio of 0.42.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, equities research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.60%. Assurant’s payout ratio is currently 22.11%.

Analyst Ratings Changes

A number of research firms recently weighed in on AIZ. Morgan Stanley assumed coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target on the stock. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Truist Financial increased their price target on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods upgraded Assurant from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $212.00 to $230.00 in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $234.17.

Insiders Place Their Bets

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the sale, the executive vice president now owns 17,708 shares of the company’s stock, valued at $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by 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.