Oppenheimer Asset Management Inc. Buys 1,670 Shares of Assurant, Inc. (NYSE:AIZ)

Oppenheimer Asset Management Inc. raised its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 22.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,029 shares of the financial services provider's stock after purchasing an additional 1,670 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Assurant were worth $1,894,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Wealth Solutions Inc. acquired a new stake in Assurant in the 4th quarter valued at approximately $329,000. Y Intercept Hong Kong Ltd bought a new position in shares of Assurant during the 4th quarter worth approximately $1,125,000. Illinois Municipal Retirement Fund grew its stake in shares of Assurant by 23.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 11,718 shares of the financial services provider's stock worth $2,499,000 after acquiring an additional 2,209 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Assurant in the fourth quarter valued at approximately $12,390,000. Finally, QRG Capital Management Inc. lifted its position in shares of Assurant by 12.3% in the fourth quarter. QRG Capital Management Inc. now owns 16,341 shares of the financial services provider's stock worth $3,484,000 after purchasing an additional 1,796 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Price Performance

AIZ stock traded up $0.60 during trading on Friday, reaching $196.81. 484,438 shares of the company were exchanged, compared to its average volume of 429,330. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.41 and a quick ratio of 0.41. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 15.34 and a beta of 0.61. The company has a 50-day moving average of $197.09 and a two-hundred day moving average of $203.61.

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

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, June 9th. Assurant's payout ratio is 24.94%.

Insider Transactions at Assurant

In related news, EVP Jay Rosenblum sold 1,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president now owns 11,775 shares in the company, valued at $2,377,725.75. This trade represents a 7.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Morgan Stanley set a $217.00 price target on shares of Assurant and gave the company an "equal weight" rating in a report on Monday, May 19th. Piper Sandler upgraded 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. Finally, Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Assurant has an average rating of "Moderate Buy" and a consensus target price of $228.67.

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.