Truist Financial Corp Purchases 5,234 Shares of Assurant, Inc. $AIZ

Truist Financial Corp increased its position in shares of Assurant, Inc. (NYSE:AIZ) by 32.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,554 shares of the financial services provider’s stock after acquiring an additional 5,234 shares during the period. Truist Financial Corp’s holdings in Assurant were worth $4,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIZ. Vanguard Personalized Indexing Management LLC increased its stake in shares of Assurant by 1.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,409 shares of the financial services provider’s stock valued at $2,688,000 after purchasing an additional 168 shares during the last quarter. LBP AM SA lifted its position in shares of Assurant by 2.6% during the 3rd quarter. LBP AM SA now owns 41,296 shares of the financial services provider’s stock worth $8,945,000 after buying an additional 1,055 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in Assurant by 0.9% in the third quarter. GHP Investment Advisors Inc. now owns 18,329 shares of the financial services provider’s stock valued at $3,970,000 after buying an additional 157 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Assurant by 153.7% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,187 shares of the financial services provider’s stock valued at $474,000 after buying an additional 1,325 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its position in Assurant by 9.1% in the third quarter. UniSuper Management Pty Ltd now owns 9,546 shares of the financial services provider’s stock valued at $2,068,000 after acquiring an additional 793 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

Assurant Price Performance

Shares of NYSE:AIZ opened at $241.04 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $244.83. The firm has a market cap of $12.07 billion, a PE ratio of 14.67 and a beta of 0.56. The firm’s fifty day moving average is $234.60 and its 200-day moving average is $219.63.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, November 4th. The financial services provider reported $5.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.23 by $1.50. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.15 billion. Assurant had a return on equity of 18.61% and a net margin of 6.75%.Assurant’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $3.00 EPS. Sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

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 issued a $0.88 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $3.52 annualized dividend and a yield of 1.5%. Assurant’s dividend payout ratio is presently 21.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AIZ shares. Truist Financial set a $255.00 target price on shares of Assurant in a report on Wednesday, October 29th. Piper Sandler upped their price objective on shares of Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Zacks Research lowered shares of Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Assurant in a research note on Monday, December 29th. Finally, Morgan Stanley upped their price target on shares of Assurant from $232.00 to $248.00 and gave the stock an “equal weight” rating in a report on Monday, November 17th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $252.67.

About Assurant

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.