2,388 Shares in Assurant, Inc. $AIZ Bought by Dakota Wealth Management

Dakota Wealth Management acquired a new stake in Assurant, Inc. (NYSE:AIZ) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,388 shares of the financial services provider’s stock, valued at approximately $575,000.

Several other large investors have also recently made changes to their positions in the business. Versant Capital Management Inc raised its stake in shares of Assurant by 72.6% during the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 53 shares during the period. CYBER HORNET ETFs LLC bought a new position in Assurant during the second quarter valued at about $27,000. Smartleaf Asset Management LLC grew its position in Assurant by 65.6% during the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after buying an additional 59 shares during the period. BOKF NA purchased a new stake in Assurant during the third quarter worth about $32,000. Finally, Root Financial Partners LLC purchased a new stake in Assurant during the third quarter worth about $34,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Price Performance

NYSE AIZ opened at $216.08 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.74 billion, a PE ratio of 12.73 and a beta of 0.58. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $246.31. The firm’s 50-day simple moving average is $225.91 and its two-hundred day simple moving average is $224.67.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.06. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.28 billion. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The company’s revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $4.79 earnings per share. Research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Tuesday, February 17th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Tuesday, February 17th. Assurant’s payout ratio is currently 20.74%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Truist Financial raised their price target on shares of Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. BMO Capital Markets lowered their price target on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Piper Sandler upped their price objective on Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.17.

Insiders Place Their Bets

In other Assurant news, EVP Subhashish Sengupta sold 1,880 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the sale, the executive vice president owned 2,895 shares in the company, valued at $609,484.35. This represents a 39.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dimitry Dirienzo sold 750 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.98, for a total value of $158,235.00. Following the completion of the transaction, the chief accounting officer directly owned 4,741 shares of the company’s stock, valued at $1,000,256.18. The trade was a 13.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,650 shares of company stock worth $558,331 in the last three months. Insiders own 0.51% of the company’s stock.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.