Assurant, Inc. (NYSE:AIZ) Holdings Raised by Cerity Partners LLC

Cerity Partners LLC boosted its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 120.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,418 shares of the financial services provider's stock after acquiring an additional 10,592 shares during the period. Cerity Partners LLC's holdings in Assurant were worth $4,073,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management bought a new stake in Assurant during the 1st quarter worth $28,000. Private Trust Co. NA grew its holdings in shares of Assurant by 192.2% in the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 103 shares during the period. TD Private Client Wealth LLC grew its holdings in Assurant by 503.1% during the fourth quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 161 shares during the period. Finally, Park Square Financial Group LLC purchased a new stake in shares of Assurant during the fourth quarter worth $44,000. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Stock Performance

Shares of NYSE AIZ traded down $2.07 during mid-day trading on Monday, reaching $186.00. 442,384 shares of the company's stock were exchanged, compared to its average volume of 429,784. The firm has a 50-day moving average price of $196.53 and a two-hundred day moving average price of $200.90. Assurant, Inc. has a 52 week low of $164.63 and a 52 week high of $230.55. The firm has a market capitalization of $9.46 billion, a price-to-earnings ratio of 14.50 and a beta of 0.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.41 and a quick ratio of 0.41.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, topping the consensus estimate of $2.78 by $0.61. Assurant had a return on equity of 15.49% and a net margin of 5.55%. The firm had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company earned $4.78 earnings per share. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. Analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.72%. The ex-dividend date was Monday, June 9th. Assurant's payout ratio is 24.94%.

Insider Transactions at Assurant

In other news, EVP Jay Rosenblum sold 1,000 shares of the stock in a transaction on Friday, May 16th. The stock was 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 owned 11,775 shares in the company, valued at $2,377,725.75. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

AIZ has been the subject of a number of recent research reports. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective for the company in a research report on Thursday, April 10th. Keefe, Bruyette & Woods upped their price target on shares of Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Wall Street Zen cut shares of Assurant from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Morgan Stanley increased their price target on shares of Assurant from $217.00 to $218.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Assurant has an average rating of "Moderate Buy" and an average price target of $228.83.

Assurant 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.