Susquehanna Fundamental Investments LLC lifted its stake in Assurant, Inc. (NYSE:AIZ – Free Report) by 81.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,688 shares of the financial services provider’s stock after purchasing an additional 19,996 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.09% of Assurant worth $12,000,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new stake in Assurant in the 2nd quarter valued at about $27,000. Montag A & Associates Inc. acquired a new position in shares of Assurant during the fourth quarter worth about $28,000. First Bancorp Inc ME acquired a new position in shares of Assurant during the second quarter worth about $31,000. BOKF NA purchased a new stake in shares of Assurant during the third quarter worth approximately $32,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Assurant during the first quarter worth approximately $33,000. 92.65% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on AIZ. UBS Group lifted their price target on shares of Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Wall Street Zen lowered shares of Assurant from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Piper Sandler lifted their price objective on shares of Assurant from $290.00 to $329.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada set a $310.00 target price on shares of Assurant in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Assurant presently has an average rating of “Buy” and an average price target of $327.14.
Assurant Price Performance
AIZ stock opened at $285.69 on Monday. The business has a 50 day moving average price of $278.92 and a 200 day moving average price of $249.38. The stock has a market cap of $14.09 billion, a price-to-earnings ratio of 13.64 and a beta of 0.55. Assurant, Inc. has a fifty-two week low of $205.01 and a fifty-two week high of $303.94. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36.
Assurant (NYSE:AIZ – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.17 by $1.24. The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.56 earnings per share. Equities research analysts anticipate that Assurant, Inc. will post 22.05 earnings per share for the current fiscal year.
Assurant Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, August 31st will be issued a $0.88 dividend. The ex-dividend date is Monday, August 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. Assurant’s dividend payout ratio is presently 16.81%.
Insiders Place Their Bets
In other Assurant news, EVP Robert Lonergan sold 7,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $262.71, for a total value of $1,838,970.00. Following the completion of the transaction, the executive vice president owned 27,374 shares in the company, valued at $7,191,423.54. This represents a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Nair Biju sold 3,931 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $302.46, for a total transaction of $1,188,970.26. Following the completion of the transaction, the executive vice president owned 24,247 shares of the company’s stock, valued at $7,333,747.62. This represents a 13.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.54% of the company’s stock.
Assurant 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.
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