Assurant, Inc. (NYSE:AIZ) Shares Acquired by Assetmark Inc.

Assetmark Inc. raised its position in shares of Assurant, Inc. (NYSE:AIZ) by 312.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161 shares of the financial services provider’s stock after purchasing an additional 122 shares during the period. Assetmark Inc.’s holdings in Assurant were worth $34,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Assurant by 47.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 61 shares during the period. LRI Investments LLC boosted its stake in Assurant by 14.0% during the 4th quarter. LRI Investments LLC now owns 553 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 68 shares during the period. KBC Group NV boosted its stake in Assurant by 1.6% during the 1st quarter. KBC Group NV now owns 4,745 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 73 shares during the period. Forte Capital LLC ADV boosted its stake in Assurant by 5.2% during the 1st quarter. Forte Capital LLC ADV now owns 1,620 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 80 shares during the period. Finally, Amalgamated Bank boosted its stake in Assurant by 0.9% during the 1st quarter. Amalgamated Bank now owns 9,918 shares of the financial services provider’s stock valued at $2,080,000 after purchasing an additional 87 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Stock Up 1.3%

NYSE AIZ opened at $188.93 on Tuesday. 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 company’s 50 day simple moving average is $193.98 and its 200 day simple moving average is $199.50. Assurant, Inc. has a 12 month low of $164.63 and a 12 month high of $230.55. The company has a market capitalization of $9.61 billion, a P/E ratio of 14.73 and a beta of 0.59.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, topping analysts’ consensus estimates of $2.78 by $0.61. Assurant had a net margin of 5.55% and a return on equity of 15.49%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm earned $4.78 EPS. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 9th. Assurant’s dividend payout ratio is 24.94%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $224.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Wall Street Zen lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. 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 note on Thursday, April 10th. Finally, Morgan Stanley upped their price target on shares of Assurant from $217.00 to $218.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $228.83.

Insider Activity at Assurant

In related news, EVP Jay Rosenblum sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the sale, the executive vice president owned 11,775 shares in the company, valued at approximately $2,377,725.75. This represents a 7.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.51% of the company’s stock.

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 contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.