CW Advisors LLC Has $2.23 Million Holdings in Assurant, Inc. $AIZ

CW Advisors LLC lifted its position in Assurant, Inc. (NYSE:AIZ) by 82.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,308 shares of the financial services provider’s stock after acquiring an additional 5,109 shares during the quarter. CW Advisors LLC’s holdings in Assurant were worth $2,233,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of AIZ. Zions Bancorporation National Association UT acquired a new stake in shares of Assurant in the first quarter worth $26,000. REAP Financial Group LLC lifted its stake in Assurant by 193.9% in the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 95 shares in the last quarter. Cullen Frost Bankers Inc. boosted 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 worth $29,000 after acquiring an additional 136 shares during the period. Geneos Wealth Management Inc. grew its stake in Assurant by 57.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its stake in Assurant by 135.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 231 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Trading Down 0.6%

Assurant stock opened at $222.86 on Friday. Assurant, Inc. has a one year low of $174.97 and a one year high of $232.02. The company’s fifty day moving average price is $219.24 and its two-hundred day moving average price is $207.55. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 13.56 and a beta of 0.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. Assurant had a return on equity of 18.61% and a net margin of 6.75%.The business had revenue of $2.42 billion for the quarter. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. On average, analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Increases Dividend

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

Insider Activity

In related news, CEO Keith Demmings sold 13,725 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $220.52, for a total value of $3,026,637.00. Following the transaction, the chief executive officer directly owned 84,647 shares in the company, valued at approximately $18,666,356.44. This trade represents a 13.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on AIZ. BMO Capital Markets initiated coverage on shares of Assurant in a report on Tuesday, August 12th. They set an “outperform” rating and a $238.00 price target for the company. UBS Group boosted their price target on shares of Assurant from $255.00 to $257.00 and gave the company a “buy” rating in a report on Monday, November 10th. Stephens began coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued an “overweight” rating on the stock. Morgan Stanley boosted their target price on Assurant from $232.00 to $248.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Finally, Zacks Research lowered Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $250.00.

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.