Edgestream Partners L.P. Purchases Shares of 6,298 Assurant, Inc. (NYSE:AIZ)

Edgestream Partners L.P. bought a new position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,298 shares of the financial services provider's stock, valued at approximately $1,321,000.

Several other institutional investors have also bought and sold shares of AIZ. Bank of New York Mellon Corp raised its position in shares of Assurant by 12.7% during the 1st quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider's stock worth $784,603,000 after purchasing an additional 420,069 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Assurant by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider's stock valued at $299,724,000 after purchasing an additional 10,956 shares during the period. Northern Trust Corp grew its holdings in shares of Assurant by 23.1% in the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock valued at $177,370,000 after purchasing an additional 156,364 shares during the period. Norges Bank purchased a new stake in shares of Assurant in the fourth quarter valued at about $143,475,000. Finally, Clark Capital Management Group Inc. lifted its position in Assurant by 1.2% in the fourth quarter. Clark Capital Management Group Inc. now owns 607,458 shares of the financial services provider's stock valued at $129,522,000 after buying an additional 7,211 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Insider Activity

In other news, EVP Jay Rosenblum sold 1,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $201.93, for a total transaction of $201,930.00. Following the completion of the transaction, the executive vice president directly owned 11,775 shares in the company, valued at approximately $2,377,725.75. The trade was a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by corporate insiders.

Assurant Stock Up 1.0%

Shares of NYSE AIZ traded up $1.79 during trading hours on Tuesday, hitting $187.89. The stock had a trading volume of 22,216 shares, compared to its average volume of 428,207. The company has a market capitalization of $9.56 billion, a P/E ratio of 14.63 and a beta of 0.59. The firm's 50-day moving average price is $196.53 and its two-hundred day moving average price is $200.90. Assurant, Inc. has a 52 week low of $164.63 and a 52 week high of $230.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.41 and a current ratio of 0.41.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter in the prior year, the business earned $4.78 earnings per share. The company's revenue was up 6.7% on a year-over-year basis. Analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.70%. Assurant's payout ratio is 24.94%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on Assurant from $217.00 to $218.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 target price on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $224.00 to $225.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, Wall Street Zen lowered shares of Assurant from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Assurant currently has a consensus rating of "Moderate Buy" and an average target price of $228.83.

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.