Assurant, Inc. $AIZ Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 27.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,605 shares of the financial services provider's stock after selling 41,139 shares during the period. JPMorgan Chase & Co. owned about 0.21% of Assurant worth $21,450,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Entropy Technologies LP bought a new stake in shares of Assurant during the 2nd quarter valued at about $770,000. Dynamic Technology Lab Private Ltd acquired a new position in Assurant in the second quarter valued at approximately $324,000. Catalyst Funds Management Pty Ltd bought a new position in shares of Assurant during the second quarter valued at approximately $881,000. Vanguard Group Inc. grew its holdings in shares of Assurant by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,775,234 shares of the financial services provider's stock valued at $1,338,041,000 after purchasing an additional 88,749 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its position in shares of Assurant by 16.0% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 8,310 shares of the financial services provider's stock worth $1,641,000 after purchasing an additional 1,148 shares during the period. 92.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Assurant news, CEO Keith Demmings sold 13,725 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total value of $3,026,637.00. Following the completion of the sale, the chief executive officer directly owned 84,647 shares in the company, valued at $18,666,356.44. This represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.51% of the stock is owned by company insiders.

Assurant Price Performance

Shares of AIZ opened at $224.47 on Friday. Assurant, Inc. has a one year low of $174.97 and a one year high of $232.02. The stock's fifty day moving average is $219.10 and its 200-day moving average is $207.37. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 13.66 and a beta of 0.57.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 earnings per share for the quarter. The business had revenue of $2.42 billion during the quarter. Assurant had a net margin of 6.75% and a return on equity of 18.61%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. Equities analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 1st will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Assurant's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.6%. Assurant's dividend payout ratio is presently 21.42%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AIZ. UBS Group boosted their price objective on Assurant from $255.00 to $257.00 and gave the company a "buy" rating in a research report on Monday, November 10th. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. BMO Capital Markets began coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price target for the company. Benchmark began coverage on shares of Assurant in a report on Tuesday, August 12th. They issued a "buy" rating on the stock. Finally, Morgan Stanley boosted their target price on shares of Assurant from $232.00 to $248.00 and gave the company an "equal weight" rating in a research note on Monday, November 17th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $250.00.

Get Our Latest Analysis on AIZ

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.

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