Covestor Ltd Grows Position in Assurant, Inc. (NYSE:AIZ)

Covestor Ltd raised its holdings in Assurant, Inc. (NYSE:AIZFree Report) by 48.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 478 shares of the financial services provider’s stock after purchasing an additional 156 shares during the period. Covestor Ltd’s holdings in Assurant were worth $95,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Innealta Capital LLC bought a new position in Assurant in the 2nd quarter worth approximately $31,000. Richardson Financial Services Inc. lifted its position in shares of Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 77 shares in the last quarter. Family Firm Inc. bought a new position in shares of Assurant in the second quarter worth $51,000. Capital Performance Advisors LLP purchased a new position in shares of Assurant in the third quarter valued at $56,000. Finally, Blue Trust Inc. grew its position in shares of Assurant by 40.1% in the second quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

AIZ stock opened at $212.31 on Wednesday. The firm has a 50 day simple moving average of $195.46 and a two-hundred day simple moving average of $181.69. The stock has a market cap of $11.00 billion, a PE ratio of 15.10, a P/E/G ratio of 2.19 and a beta of 0.57. Assurant, Inc. has a one year low of $159.32 and a one year high of $214.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.66 and a quick ratio of 0.40.

Assurant (NYSE:AIZGet Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.48. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.29 earnings per share. On average, analysts predict that Assurant, Inc. will post 15.05 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.36%. The ex-dividend date was Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is presently 20.54%.

Insider Transactions at Assurant

In related news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the transaction, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AIZ shares. Keefe, Bruyette & Woods raised their target price on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research note on Tuesday. UBS Group raised their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Piper Sandler upped their target price on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Bank of America increased their target price on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Truist Financial boosted their price target on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.20.

Check Out Our Latest Research Report on Assurant

About Assurant

(Free Report)

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.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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