Blueshift Asset Management LLC Has $2.11 Million Stock Holdings in Assurant, Inc. $AIZ

Blueshift Asset Management LLC increased its position in shares of Assurant, Inc. (NYSE:AIZ) by 98.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,694 shares of the financial services provider’s stock after buying an additional 5,297 shares during the quarter. Assurant comprises about 0.6% of Blueshift Asset Management LLC’s portfolio, making the stock its 18th biggest position. Blueshift Asset Management LLC’s holdings in Assurant were worth $2,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AIZ. Zions Bancorporation National Association UT bought a new stake in shares of Assurant during the first quarter valued at approximately $26,000. REAP Financial Group LLC increased its stake in Assurant by 193.9% during 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 in the last quarter. Cullen Frost Bankers Inc. raised its holdings in Assurant by 1,133.3% during the second quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider’s stock worth $29,000 after buying an additional 136 shares during the last quarter. Assetmark Inc. raised its holdings in Assurant by 312.8% during the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock worth $34,000 after buying an additional 122 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted 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 buying an additional 67 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

Shares of NYSE:AIZ opened at $225.47 on Tuesday. The company has a market capitalization of $11.29 billion, a P/E ratio of 16.33 and a beta of 0.56. The company’s 50-day moving average is $218.61 and its 200 day moving average is $207.01. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. Assurant, Inc. has a fifty-two week low of $174.97 and a fifty-two week high of $232.02.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter. The business had revenue of $2.42 billion during 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. On average, equities research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.6%. This is a positive change from Assurant’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Monday, December 1st. Assurant’s dividend payout ratio is currently 21.42%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group upped their target price on shares of Assurant from $255.00 to $257.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Stephens started coverage on Assurant in a research note on Tuesday, August 12th. They issued an “overweight” rating for the company. Truist Financial set a $255.00 target price on Assurant in a report on Wednesday, October 29th. Benchmark initiated coverage on Assurant in a report on Tuesday, August 12th. They set a “buy” rating for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a research report on Tuesday, November 25th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $250.00.

Insiders Place Their Bets

In other Assurant news, CEO Keith Demmings sold 13,725 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total value 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 trade represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.51% of the company’s stock.

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.