Thornburg Investment Management Inc. Has $10.68 Million Holdings in Assurant, Inc. (NYSE:AIZ)

Thornburg Investment Management Inc. decreased its stake in shares of Assurant, Inc. (NYSE:AIZ) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,294 shares of the financial services provider’s stock after selling 2,666 shares during the period. Thornburg Investment Management Inc.’s holdings in Assurant were worth $10,677,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Lyrical Asset Management LP boosted its position in shares of Assurant by 2.0% during the fourth quarter. Lyrical Asset Management LP now owns 783,257 shares of the financial services provider’s stock valued at $131,971,000 after buying an additional 15,074 shares during the last quarter. Northern Trust Corp boosted its position in shares of Assurant by 23.4% during the fourth quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock valued at $124,194,000 after buying an additional 139,680 shares during the last quarter. Norges Bank purchased a new position in shares of Assurant during the fourth quarter valued at approximately $108,253,000. TD Asset Management Inc boosted its position in shares of Assurant by 20.4% during the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after buying an additional 96,021 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Assurant by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 443,409 shares of the financial services provider’s stock valued at $74,710,000 after buying an additional 4,394 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Activity at Assurant

In related news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the sale, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the transaction, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Assurant Stock Performance

Shares of AIZ opened at $189.32 on Thursday. The firm has a market cap of $9.84 billion, a PE ratio of 13.21, a PEG ratio of 1.63 and a beta of 0.57. The stock’s fifty day moving average price is $179.64 and its two-hundred day moving average price is $176.73. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. Assurant, Inc. has a 1 year low of $137.50 and a 1 year high of $199.50.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.50. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.89 earnings per share. On average, equities research analysts forecast that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.52%. Assurant’s payout ratio is 20.10%.

Analyst Upgrades and Downgrades

AIZ has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Piper Sandler lowered Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a report on Thursday, August 22nd. UBS Group lifted their price target on Assurant from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Bank of America dropped their price target on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a report on Monday, September 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Assurant presently has an average rating of “Moderate Buy” and a consensus target price of $207.60.

About Assurant

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.