Nordea Investment Management AB Has $141.53 Million Stake in Assurant, Inc. $AIZ

Nordea Investment Management AB lowered its stake in shares of Assurant, Inc. (NYSE:AIZ) by 12.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 585,106 shares of the financial services provider’s stock after selling 80,577 shares during the quarter. Nordea Investment Management AB’s holdings in Assurant were worth $141,525,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AIZ. Vanguard Group Inc. raised its position in shares of Assurant by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,775,234 shares of the financial services provider’s stock valued at $1,338,041,000 after acquiring an additional 88,749 shares during the period. Bank of New York Mellon Corp boosted its stake in Assurant by 23.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock worth $1,085,247,000 after acquiring an additional 959,259 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Assurant by 15.1% during the third quarter. Dimensional Fund Advisors LP now owns 862,500 shares of the financial services provider’s stock valued at $186,808,000 after purchasing an additional 113,235 shares during the period. Norges Bank acquired a new position in Assurant during the second quarter valued at approximately $131,300,000. Finally, Qube Research & Technologies Ltd increased its stake in Assurant by 482.8% in the second quarter. Qube Research & Technologies Ltd now owns 621,830 shares of the financial services provider’s stock valued at $122,805,000 after purchasing an additional 515,127 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on AIZ. Weiss Ratings reiterated a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. Piper Sandler boosted their price target on shares of Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Friday, December 19th. BMO Capital Markets lowered their price objective on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Truist Financial raised their price objective on Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.17.

Assurant Stock Performance

Shares of AIZ stock opened at $212.40 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $246.31. The company’s 50 day moving average price is $228.28 and its two-hundred day moving average price is $224.50. The company has a market capitalization of $10.56 billion, a P/E ratio of 12.52 and a beta of 0.58.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.06. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the prior year, the company earned $4.79 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Tuesday, February 17th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.52 dividend on an annualized basis and a yield of 1.7%. Assurant’s dividend payout ratio is presently 20.74%.

Assurant 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.