Cwm LLC Sells 2,373 Shares of Assurant, Inc. $AIZ

Key Points

• Cwm LLC has reduced its holdings in Assurant, Inc. by 42.3%, selling 2,373 shares to hold a total of 3,232 shares valued at approximately $638,000 at the end of the quarter.
• Various institutional investors have increased their stakes in Assurant, most notably Pacer Advisors Inc., which raised its position by 42.0% during the 1st quarter.
• Assurant has announced a quarterly dividend of $0.80, resulting in an annualized yield of 1.5%, with its dividend payout ratio standing at 23.17%.

Cwm LLC lowered its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 42.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,232 shares of the financial services provider's stock after selling 2,373 shares during the quarter. Cwm LLC's holdings in Assurant were worth $638,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Assurant by 12.0% during the 1st quarter. Principal Financial Group Inc. now owns 79,289 shares of the financial services provider's stock worth $16,631,000 after acquiring an additional 8,478 shares during the period. Private Trust Co. NA lifted its position in Assurant by 192.2% during the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock worth $31,000 after acquiring an additional 98 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Assurant by 14.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,163 shares of the financial services provider's stock worth $1,271,000 after acquiring an additional 766 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Assurant by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,501 shares of the financial services provider's stock worth $74,357,000 after acquiring an additional 24,153 shares during the period. Finally, Pacer Advisors Inc. lifted its position in Assurant by 42.0% during the 1st quarter. Pacer Advisors Inc. now owns 8,264 shares of the financial services provider's stock worth $1,733,000 after acquiring an additional 2,446 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Wall Street Analyst Weigh In

AIZ has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Assurant from $230.00 to $232.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. Zacks Research lowered Assurant from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 17th. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Stephens initiated coverage on Assurant in a research note on Tuesday, August 12th. They set an "overweight" rating for the company. Finally, Piper Sandler lifted their price objective on Assurant from $238.00 to $248.00 and gave the company an "overweight" rating in a research note on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $243.00.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 950 shares of Assurant stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $204.96, for a total transaction of $194,712.00. Following the sale, the chief accounting officer owned 3,135 shares of the company's stock, valued at approximately $642,549.60. The trade was a 23.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jay Rosenblum sold 3,900 shares of Assurant stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total transaction of $813,267.00. Following the sale, the executive vice president directly owned 7,875 shares in the company, valued at approximately $1,642,173.75. The trade was a 33.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,125 shares of company stock valued at $5,917,925 in the last ninety days. 0.51% of the stock is currently owned by corporate insiders.

Assurant Trading Up 0.8%

AIZ stock opened at $211.75 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 12-month low of $174.97 and a 12-month high of $230.55. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 15.33 and a beta of 0.55. The business's 50-day moving average is $213.91 and its 200 day moving average is $201.35.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The company had revenue of $2.42 billion for the quarter. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. On average, sell-side analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Assurant's dividend payout ratio (DPR) is 23.17%.

About Assurant

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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