Alpine Global Management LLC Purchases Shares of 3,710 Assurant, Inc. (NYSE:AIZ)

Alpine Global Management LLC acquired a new position in Assurant, Inc. (NYSE:AIZ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,710 shares of the financial services provider's stock, valued at approximately $791,000.

Several other institutional investors have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Assurant in the fourth quarter worth approximately $28,000. Smartleaf Asset Management LLC grew its position in Assurant by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 75 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock worth $32,000 after purchasing an additional 103 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Assurant by 503.1% during the fourth quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock worth $41,000 after purchasing an additional 161 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its stake in shares of Assurant by 42.8% during the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 86 shares during the period. Institutional investors own 92.65% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AIZ shares. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Truist Financial boosted their target price on shares of Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 target price for the company in a research note on Thursday, April 10th. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Morgan Stanley set a $217.00 target price on shares of Assurant and gave the company an "equal weight" rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $228.67.

Insider Buying and Selling

In related news, EVP Jay Rosenblum sold 1,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the sale, the executive vice president now directly owns 11,775 shares of the company's stock, valued at $2,377,725.75. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is owned by insiders.

Assurant Stock Up 2.2%

NYSE:AIZ traded up $4.31 during mid-day trading on Tuesday, reaching $200.83. The company's stock had a trading volume of 721,221 shares, compared to its average volume of 469,858. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The stock has a fifty day moving average of $196.77 and a 200-day moving average of $207.03. The firm has a market capitalization of $10.22 billion, a PE ratio of 13.88 and a beta of 0.59. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.61. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The company had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the firm earned $4.78 earnings per share. The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Monday, June 9th. Assurant's dividend payout ratio (DPR) is presently 24.94%.

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.