Siemens Fonds Invest GmbH Takes $1.14 Million Position in Assurant, Inc. (NYSE:AIZ)

Siemens Fonds Invest GmbH bought a new stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 5,328 shares of the financial services provider's stock, valued at approximately $1,136,000.

Several other institutional investors have also added to or reduced their stakes in AIZ. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant in the 4th quarter worth $28,000. Smartleaf Asset Management LLC lifted its position in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 75 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock worth $32,000 after purchasing an additional 103 shares in the last quarter. TD Private Client Wealth LLC raised its stake in Assurant by 503.1% during the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 161 shares during the period. Finally, Park Square Financial Group LLC bought a new stake in Assurant during the 4th quarter valued at approximately $44,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Price Performance

Shares of NYSE AIZ traded up $3.03 during midday trading on Friday, reaching $202.99. 5,100,348 shares of the stock traded hands, compared to its average volume of 421,399. 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 stock has a market capitalization of $10.33 billion, a PE ratio of 14.03 and a beta of 0.59. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The company's 50 day moving average is $196.01 and its 200 day moving average is $206.79.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly 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. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.06 billion. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Assurant's revenue was up 6.7% on a year-over-year basis. During the same period last year, the company earned $4.78 earnings per share. On average, equities research analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.58%. Assurant's payout ratio is 24.94%.

Insiders Place Their Bets

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of the 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 owns 11,775 shares in the company, valued at $2,377,725.75. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.51% of the company's stock.

Analyst Ratings Changes

AIZ has been the subject of several recent analyst reports. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Truist Financial upped their price target on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods upped their price target on Assurant from $224.00 to $225.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Piper Sandler upgraded Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley set a $217.00 price target on Assurant and gave the stock an "equal weight" rating in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $228.67.

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.