Hsbc Holdings PLC Buys 9,433 Shares of Assurant, Inc. $AIZ

Hsbc Holdings PLC grew its position in shares of Assurant, Inc. (NYSE:AIZ) by 13.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 79,491 shares of the financial services provider’s stock after purchasing an additional 9,433 shares during the quarter. Hsbc Holdings PLC’s holdings in Assurant were worth $19,184,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new stake in shares of Assurant in the second quarter valued at about $27,000. Montag A & Associates Inc. bought a new position in shares of Assurant during the fourth quarter valued at about $28,000. BOKF NA purchased a new position in Assurant during the third quarter worth about $32,000. Geneos Wealth Management Inc. boosted its holdings in Assurant by 57.8% during the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares during the last quarter. Finally, Park Square Financial Group LLC grew its position in Assurant by 205.5% in the 4th quarter. Park Square Financial Group LLC now owns 168 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Insider Activity at Assurant

In related news, EVP Keith Meier sold 25,000 shares of Assurant stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the sale, the executive vice president owned 18,552 shares of the company’s stock, valued at approximately $4,717,959.12. The trade was a 57.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total value of $511,360.00. Following the completion of the transaction, the chief accounting officer owned 2,741 shares in the company, valued at approximately $700,818.88. The trade was a 42.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 36,000 shares of company stock worth $9,211,620. 0.54% of the stock is currently owned by company insiders.

Assurant Price Performance

AIZ opened at $264.21 on Thursday. The firm has a market cap of $13.09 billion, a P/E ratio of 13.51 and a beta of 0.56. The firm has a 50-day moving average of $246.73 and a 200 day moving average of $235.01. 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 fifty-two week low of $183.39 and a fifty-two week high of $268.67.

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

Assurant Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Truist Financial increased their price objective on shares of Assurant from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Piper Sandler restated an “overweight” rating on shares of Assurant in a research note on Monday. Royal Bank Of Canada set a $310.00 target price on Assurant in a report on Wednesday, June 17th. Wall Street Zen raised Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Finally, Keefe, Bruyette & Woods lifted their price target on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Assurant currently has a consensus rating of “Buy” and an average target price of $283.57.

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.