Envestnet Asset Management Inc. Has $21.22 Million Stock Holdings in Assurant, Inc. $AIZ

Envestnet Asset Management Inc. trimmed its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 12.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,446 shares of the financial services provider’s stock after selling 15,064 shares during the quarter. Envestnet Asset Management Inc. owned about 0.21% of Assurant worth $21,218,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MQS Management LLC raised its position in shares of Assurant by 72.0% in the 2nd quarter. MQS Management LLC now owns 2,331 shares of the financial services provider’s stock valued at $460,000 after buying an additional 976 shares in the last quarter. Forum Financial Management LP grew its holdings in Assurant by 6.1% during the 2nd quarter. Forum Financial Management LP now owns 1,513 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 87 shares during the last quarter. Ethic Inc. increased its holdings in Assurant by 14.1% in the second quarter. Ethic Inc. now owns 10,268 shares of the financial services provider’s stock valued at $2,021,000 after purchasing an additional 1,269 shares during the period. Cookson Peirce & Co. Inc. increased its stake in shares of Assurant by 13.5% in the second quarter. Cookson Peirce & Co. Inc. now owns 4,789 shares of the financial services provider’s stock valued at $946,000 after buying an additional 570 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in Assurant by 1,133.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 136 shares during the period. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

Assurant stock opened at $214.55 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $10.83 billion, a P/E ratio of 15.54 and a beta of 0.55. Assurant, Inc. has a one year low of $174.97 and a one year high of $230.55. The business has a fifty day moving average price of $213.56 and a 200-day moving average price of $202.85.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Thursday, March 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter. The firm had revenue of $2.42 billion for the quarter. Assurant had a net margin of 5.83% and a return on equity of 16.47%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. As a group, equities research analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Assurant’s dividend payout ratio is currently 23.17%.

Insider Buying and Selling

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of Assurant stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $204.96, for a total transaction of $194,712.00. Following the completion of the sale, the chief accounting officer owned 3,135 shares of the company’s stock, valued at $642,549.60. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jay Rosenblum sold 3,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total value of $813,267.00. Following the completion of the sale, the executive vice president owned 7,875 shares of the company’s stock, valued at $1,642,173.75. The trade was a 33.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 27,125 shares of company stock worth $5,917,925. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

AIZ has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Assurant from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. UBS Group upped their price objective on shares of Assurant from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Stephens assumed coverage on Assurant in a report on Tuesday, August 12th. They issued an “overweight” rating on the stock. Benchmark initiated coverage on shares of Assurant in a report on Tuesday, August 12th. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.83.

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.