Assurant, Inc. $AIZ Stake Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in Assurant, Inc. (NYSE:AIZ) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 455,070 shares of the financial services provider’s stock after purchasing an additional 6,041 shares during the period. Charles Schwab Investment Management Inc. owned 0.89% of Assurant worth $89,872,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new position in shares of Assurant during the first quarter valued at $26,000. REAP Financial Group LLC lifted its position in Assurant by 193.9% in the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 95 shares during the last quarter. Cullen Frost Bankers Inc. boosted its stake 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. Assetmark Inc. grew its position in Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 122 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the period. 92.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AIZ. Weiss Ratings reiterated a “buy (b)” rating on shares of Assurant in a research report on Tuesday. Keefe, Bruyette & Woods raised their target price on Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Zacks Research lowered Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Truist Financial set a $255.00 price target on Assurant in a research note on Wednesday, October 29th. Finally, Benchmark started coverage on shares of Assurant in a research note on Tuesday, August 12th. They set a “buy” rating on the stock. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $250.00.

Insider Buying and Selling

In related news, CEO Keith Demmings sold 13,725 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the completion of the sale, the chief executive officer directly owned 84,647 shares of the company’s stock, valued at $18,666,356.44. This represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Assurant Stock Down 0.2%

AIZ opened at $228.16 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $11.43 billion, a PE ratio of 16.52 and a beta of 0.56. The stock’s fifty day moving average is $218.32 and its 200-day moving average is $206.72. Assurant, Inc. has a one year low of $174.97 and a one year high of $232.02.

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

Assurant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 1st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, December 1st. This is an increase from Assurant’s previous quarterly dividend of $0.80. Assurant’s payout ratio is presently 21.42%.

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.