Franklin Resources Inc. Increases Stock Position in Assurant, Inc. (NYSE:AIZ)

Franklin Resources Inc. grew its stake in Assurant, Inc. (NYSE:AIZ) by 12.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,558 shares of the financial services provider’s stock after buying an additional 841 shares during the period. Franklin Resources Inc.’s holdings in Assurant were worth $1,612,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC grew its holdings in shares of Assurant by 48.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 12,831 shares of the financial services provider’s stock worth $2,736,000 after purchasing an additional 4,168 shares during the last quarter. Allstate Corp purchased a new stake in Assurant during the 4th quarter valued at $338,000. denkapparat Operations GmbH bought a new stake in Assurant in the 4th quarter worth $282,000. Orion Portfolio Solutions LLC increased its position in shares of Assurant by 75.9% in the fourth quarter. Orion Portfolio Solutions LLC now owns 9,555 shares of the financial services provider’s stock valued at $2,037,000 after acquiring an additional 4,123 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in shares of Assurant by 7.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 48,516 shares of the financial services provider’s stock valued at $10,345,000 after acquiring an additional 3,170 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Trading Up 3.0 %

AIZ opened at $195.25 on Tuesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The firm has a market cap of $9.92 billion, a price-to-earnings ratio of 13.49 and a beta of 0.53. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55. The stock has a fifty day moving average price of $204.03 and a 200-day moving average price of $207.15.

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

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, February 3rd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.64%. Assurant’s dividend payout ratio (DPR) is 22.11%.

Wall Street Analyst Weigh In

Several research firms have recently commented on AIZ. Piper Sandler raised shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 target price for the company in a research report on Thursday, April 10th. Keefe, Bruyette & Woods lowered their price objective on shares of Assurant from $230.00 to $224.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Truist Financial raised their target price on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $234.17.

Insider Activity

In related news, EVP Biju Nair sold 3,000 shares of the 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 completion of the sale, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Assurant Company 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.