Pathstone Holdings LLC Acquires 52 Shares of Assurant, Inc. (NYSE:AIZ)

Pathstone Holdings LLC raised its holdings in Assurant, Inc. (NYSE:AIZ) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,087 shares of the financial services provider’s stock after buying an additional 52 shares during the period. Pathstone Holdings LLC’s holdings in Assurant were worth $2,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in shares of Assurant in the first quarter valued at about $321,000. Tidal Investments LLC increased its position in shares of Assurant by 256.5% during the 1st quarter. Tidal Investments LLC now owns 8,979 shares of the financial services provider’s stock worth $1,690,000 after purchasing an additional 6,460 shares during the last quarter. Swedbank AB bought a new stake in shares of Assurant during the 1st quarter worth approximately $270,000. Cetera Investment Advisers boosted its holdings in shares of Assurant by 443.7% in the 1st quarter. Cetera Investment Advisers now owns 12,973 shares of the financial services provider’s stock valued at $2,442,000 after buying an additional 10,587 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in shares of Assurant by 75.4% in the first quarter. Cetera Advisors LLC now owns 6,462 shares of the financial services provider’s stock valued at $1,216,000 after buying an additional 2,778 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AIZ has been the subject of a number of recent analyst reports. UBS Group increased their price target on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Bank of America boosted their price target on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price objective on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Finally, Piper Sandler lifted their target price on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.20.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the sale, the executive vice president now directly owns 20,658 shares in the company, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Assurant Trading Up 0.5 %

Shares of AIZ stock opened at $228.62 on Wednesday. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The firm has a 50 day moving average price of $201.48 and a two-hundred day moving average price of $185.14. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $11.73 billion, a PE ratio of 16.31 and a beta of 0.57.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. The firm had revenue of $2.97 billion for 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 for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.29 EPS. As a group, analysts predict that Assurant, Inc. will post 15.41 earnings per share for the current year.

Assurant Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.40%. This is a positive change from Assurant’s previous quarterly dividend of $0.72. The ex-dividend date is Monday, December 9th. Assurant’s dividend payout ratio (DPR) is currently 22.82%.

Assurant Company 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.