Wealth Enhancement Advisory Services LLC Grows Position in Assurant, Inc. (NYSE:AIZ)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Assurant, Inc. (NYSE:AIZFree Report) by 1.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,135 shares of the financial services provider’s stock after purchasing an additional 101 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Assurant were worth $1,287,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. LRI Investments LLC boosted its holdings in Assurant by 14.0% in the 4th quarter. LRI Investments LLC now owns 553 shares of the financial services provider’s stock worth $118,000 after buying an additional 68 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 75 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Assurant by 30.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 364 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 84 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Assurant by 4.6% in the first quarter. Fifth Third Bancorp now owns 2,079 shares of the financial services provider’s stock worth $436,000 after acquiring an additional 91 shares during the period. Finally, Baird Financial Group Inc. grew its position in shares of Assurant by 1.4% in the fourth quarter. Baird Financial Group Inc. now owns 6,984 shares of the financial services provider’s stock valued at $1,489,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analysts Set New Price Targets

AIZ has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their price objective on Assurant from $224.00 to $225.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Piper Sandler raised shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target on the stock in a report on Thursday, April 10th. Morgan Stanley set a $217.00 price objective on shares of Assurant and gave the company an “equal weight” rating in a research report on Monday, May 19th. Finally, Wall Street Zen raised shares of Assurant from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.67.

View Our Latest Report on Assurant

Assurant Trading Up 0.4%

Shares of AIZ opened at $197.68 on Tuesday. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a market capitalization of $10.06 billion, a P/E ratio of 15.41 and a beta of 0.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.41 and a quick ratio of 0.41. The firm’s 50 day simple moving average is $197.52 and its 200 day simple moving average is $203.14.

Assurant (NYSE:AIZGet Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.61. Assurant had a net margin of 5.55% and a return on equity of 15.49%. The firm had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the company posted $4.78 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Sell-side analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.62%. Assurant’s payout ratio is 24.94%.

Insiders Place Their Bets

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $201.93, for a total transaction of $201,930.00. Following the transaction, the executive vice president directly owned 11,775 shares in the company, valued at $2,377,725.75. This trade represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.51% of the stock is owned by insiders.

Assurant Company Profile

(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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