Rafferty Asset Management LLC Purchases 858 Shares of Assurant, Inc. (NYSE:AIZ)

Rafferty Asset Management LLC boosted its position in Assurant, Inc. (NYSE:AIZFree Report) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,640 shares of the financial services provider’s stock after acquiring an additional 858 shares during the period. Rafferty Asset Management LLC’s holdings in Assurant were worth $3,141,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AIZ. Charles Schwab Investment Management Inc. boosted its holdings in Assurant by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 439,015 shares of the financial services provider’s stock valued at $63,034,000 after acquiring an additional 5,508 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Assurant by 3.6% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 10,085 shares of the financial services provider’s stock worth $1,448,000 after buying an additional 348 shares during the last quarter. Pathstone Family Office LLC bought a new position in Assurant during the third quarter worth about $452,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Assurant by 3.5% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 75,184 shares of the financial services provider’s stock worth $10,795,000 after buying an additional 2,508 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Assurant by 18.4% during the third quarter. UBS Group AG now owns 39,180 shares of the financial services provider’s stock worth $5,625,000 after buying an additional 6,101 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Trading Up 0.5 %

NYSE AIZ opened at $173.34 on Friday. The firm has a market cap of $9.01 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.72 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39. The stock’s 50-day moving average is $174.90 and its 200-day moving average is $173.00. Assurant, Inc. has a one year low of $121.51 and a one year high of $189.48.

Assurant (NYSE:AIZGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $4.78 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.91. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. Sell-side analysts anticipate that Assurant, Inc. will post 16.21 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Monday, June 10th. Assurant’s dividend payout ratio is presently 20.10%.

Insider Activity at Assurant

In other Assurant news, COO Francesca Luthi sold 6,700 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the transaction, the chief operating officer now owns 10,748 shares of the company’s stock, valued at approximately $1,895,517.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael P. Campbell sold 1,304 shares of Assurant stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $173.35, for a total transaction of $226,048.40. Following the completion of the transaction, the executive vice president now directly owns 24,586 shares in the company, valued at approximately $4,261,983.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total value of $1,181,612.00. Following the transaction, the chief operating officer now owns 10,748 shares of the company’s stock, valued at $1,895,517.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,788 shares of company stock valued at $2,248,489. 0.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. UBS Group raised their target price on Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Keefe, Bruyette & Woods raised their target price on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a report on Wednesday, May 15th. Finally, Piper Sandler raised their target price on Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $200.25.

View Our Latest Stock Analysis on AIZ

About Assurant

(Free Report)

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.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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