Rhumbline Advisers Grows Stock Position in Assurant, Inc. (NYSE:AIZ)

Rhumbline Advisers boosted its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,433 shares of the financial services provider's stock after acquiring an additional 10,251 shares during the quarter. Rhumbline Advisers owned about 0.23% of Assurant worth $24,841,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC boosted its stake in shares of Assurant by 11.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,333 shares of the financial services provider's stock valued at $280,000 after purchasing an additional 141 shares during the period. GAMMA Investing LLC boosted its position in Assurant by 20,818.1% in the 1st quarter. GAMMA Investing LLC now owns 308,123 shares of the financial services provider's stock valued at $646,290,000 after buying an additional 306,650 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Assurant by 35.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider's stock valued at $1,287,000 after buying an additional 1,584 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new position in Assurant in the 4th quarter valued at about $1,136,000. Finally, Park Square Financial Group LLC purchased a new position in Assurant in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 92.65% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of the firm's 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 sale, the executive vice president now directly owns 11,775 shares in the company, valued at approximately $2,377,725.75. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.51% of the company's stock.

Assurant Stock Performance

Assurant stock opened at $201.27 on Friday. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55. The company has a fifty day moving average price of $195.52 and a two-hundred day moving average price of $206.42. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market cap of $10.24 billion, a PE ratio of 13.91 and a beta of 0.61.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, beating the consensus estimate of $2.78 by $0.61. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The business had revenue of $3.07 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the business posted $4.78 EPS. The company's quarterly revenue was up 6.7% on a year-over-year basis. Research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

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

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.

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