28,493 Shares in Assurant, Inc. (NYSE:AIZ) Bought by Bank of Montreal Can

Bank of Montreal Can bought a new position in Assurant, Inc. (NYSE:AIZ) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 28,493 shares of the financial services provider’s stock, valued at approximately $3,749,000. Bank of Montreal Can owned approximately 0.05% of Assurant at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State of Michigan Retirement System boosted its holdings in Assurant by 0.7% in the first quarter. State of Michigan Retirement System now owns 14,467 shares of the financial services provider’s stock worth $1,737,000 after acquiring an additional 100 shares in the last quarter. Ethic Inc. boosted its holdings in Assurant by 273.8% in the first quarter. Ethic Inc. now owns 6,459 shares of the financial services provider’s stock worth $776,000 after acquiring an additional 4,731 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Assurant by 1.9% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,373 shares of the financial services provider’s stock worth $10,011,000 after acquiring an additional 1,574 shares in the last quarter. Perpetual Ltd bought a new stake in Assurant in the first quarter worth $410,000. Finally, First Republic Investment Management Inc. boosted its holdings in Assurant by 3.3% in the first quarter. First Republic Investment Management Inc. now owns 21,183 shares of the financial services provider’s stock worth $2,543,000 after acquiring an additional 678 shares in the last quarter. 93.13% of the stock is owned by institutional investors.

Assurant Trading Down 0.2 %

Shares of NYSE:AIZ opened at $163.50 on Monday. Assurant, Inc. has a 1 year low of $104.49 and a 1 year high of $167.81. The stock’s fifty day moving average price is $145.17 and its 200-day moving average price is $135.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.60 and a quick ratio of 0.41. The company has a market cap of $8.67 billion, a P/E ratio of 16.63, a PEG ratio of 0.94 and a beta of 0.50.

Assurant (NYSE:AIZ) last posted its earnings results on Wednesday, November 1st. The financial services provider reported $4.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $1.81. Assurant had a return on equity of 17.35% and a net margin of 4.89%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. Assurant’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Assurant, Inc. will post 12.57 earnings per share for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Monday, August 28th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Friday, August 25th. Assurant’s dividend payout ratio is 28.48%.

Analyst Ratings Changes

Several research firms have commented on AIZ. Truist Financial boosted their target price on Assurant from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler upped their price target on Assurant from $150.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 2nd. Finally, StockNews.com assumed coverage on Assurant in a report on Thursday, October 5th. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Assurant has a consensus rating of “Buy” and a consensus target price of $150.20.

Insider Buying and Selling at Assurant

In other Assurant news, CFO Richard S. Dziadzio sold 4,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $143.19, for a total value of $572,760.00. Following the transaction, the chief financial officer now owns 51,893 shares of the company’s stock, valued at $7,430,558.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Assurant 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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.