Sei Investments Co. Purchases 18,966 Shares of Assurant, Inc. $AIZ

Sei Investments Co. increased its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 30.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 80,774 shares of the financial services provider's stock after acquiring an additional 18,966 shares during the quarter. Sei Investments Co. owned about 0.16% of Assurant worth $17,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Assurant in the fourth quarter valued at about $161,574,000. Adage Capital Partners GP L.L.C. lifted its position in shares of Assurant by 676.5% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 240,240 shares of the financial services provider's stock worth $57,862,000 after purchasing an additional 209,300 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Assurant by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider's stock worth $245,121,000 after purchasing an additional 205,767 shares during the last quarter. Millennium Management LLC boosted its stake in Assurant by 122.9% during the 4th quarter. Millennium Management LLC now owns 322,235 shares of the financial services provider's stock valued at $77,610,000 after purchasing an additional 177,642 shares during the period. Finally, Gillson Capital LP boosted its stake in Assurant by 62.6% during the 4th quarter. Gillson Capital LP now owns 390,205 shares of the financial services provider's stock valued at $93,981,000 after purchasing an additional 150,168 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Price Performance

Shares of Assurant stock opened at $280.93 on Thursday. Assurant, Inc. has a twelve month low of $183.39 and a twelve month high of $284.64. The firm has a market cap of $13.92 billion, a P/E ratio of 14.37 and a beta of 0.55. The firm's 50-day simple moving average is $265.83 and its 200-day simple moving average is $242.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.29 billion. During the same period in the prior year, the firm posted $5.79 EPS. Assurant's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, research analysts expect that Assurant, Inc. will post 21.04 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 8th were given a $0.88 dividend. The ex-dividend date was Monday, June 8th. This represents a $3.52 dividend on an annualized basis and a yield of 1.3%. Assurant's payout ratio is 18.01%.

Wall Street Analysts Forecast Growth

AIZ has been the topic of several recent analyst reports. Weiss Ratings downgraded Assurant from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Tuesday, June 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $270.00 to $310.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 8th. Wall Street Zen lowered shares of Assurant from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Royal Bank Of Canada set a $310.00 target price on shares of Assurant in a research report on Wednesday, June 17th. Finally, Truist Financial upped their target price on shares of Assurant from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $291.43.

Insider Activity

In other Assurant news, CAO Dimitry Dirienzo sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total transaction of $511,360.00. Following the sale, the chief accounting officer directly owned 2,741 shares of the company's stock, valued at approximately $700,818.88. This represents a 42.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jay Rosenblum sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $251.77, for a total transaction of $503,540.00. Following the sale, the executive vice president directly owned 12,764 shares of the company's stock, valued at approximately $3,213,592.28. The trade was a 13.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,000 shares of company stock valued at $9,211,620 over the last three months. 0.54% of the stock is owned by corporate insiders.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.

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