SG Americas Securities LLC reduced its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 72.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,965 shares of the financial services provider's stock after selling 45,267 shares during the period. SG Americas Securities LLC's holdings in Assurant were worth $3,695,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new position in Assurant during the 2nd quarter worth $27,000. Montag A & Associates Inc. bought a new stake in Assurant during the fourth quarter valued at about $28,000. BOKF NA acquired a new stake in shares of Assurant in the third quarter valued at about $32,000. Geneos Wealth Management Inc. grew its position in shares of Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 67 shares during the last quarter. Finally, Park Square Financial Group LLC increased its stake in shares of Assurant by 205.5% in the fourth quarter. Park Square Financial Group LLC now owns 168 shares of the financial services provider's stock worth $40,000 after purchasing an additional 113 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
AIZ has been the subject of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Assurant from $258.00 to $270.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 13th. Weiss Ratings lowered Assurant from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, June 23rd. Morgan Stanley raised Assurant from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $240.00 to $285.00 in a research report on Thursday, May 14th. UBS Group upped their price target on Assurant from $270.00 to $274.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Finally, Piper Sandler reissued an "overweight" rating on shares of Assurant in a research report on Monday, June 22nd. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $283.57.
View Our Latest Stock Report on Assurant
Insider Transactions at Assurant
In other Assurant news, EVP Robert Lonergan sold 7,000 shares of Assurant stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $262.71, for a total transaction of $1,838,970.00. Following the sale, the executive vice president owned 27,374 shares in the company, valued at $7,191,423.54. The trade was a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Dimitry Dirienzo sold 2,000 shares of Assurant stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total transaction of $511,360.00. Following the sale, the chief accounting officer owned 2,741 shares in the company, valued at $700,818.88. This represents a 42.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 36,000 shares of company stock valued at $9,211,620. Company insiders own 0.54% of the company's stock.
Assurant Stock Up 1.1%
AIZ stock opened at $267.34 on Tuesday. Assurant, Inc. has a twelve month low of $183.39 and a twelve month high of $268.67. The company has a market cap of $13.25 billion, a PE ratio of 13.67 and a beta of 0.56. The business's 50-day simple moving average is $249.19 and its 200 day simple moving average is $235.90. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38.
Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.29 by $0.66. The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company's quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $5.79 earnings per share. On average, research analysts anticipate that Assurant, Inc. will post 21.04 earnings per share for the current year.
Assurant Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 8th were given a dividend of $0.88 per share. The ex-dividend date was Monday, June 8th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.3%. Assurant's payout ratio is currently 18.01%.
About Assurant
(
Free Report)
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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