Vest Financial LLC Purchases 4,047 Shares of Assurant, Inc. $AIZ

Key Points

• Vest Financial LLC increased its stake in Assurant, Inc. by 24.6%, acquiring 4,047 additional shares to reach a total of 20,475 shares valued at approximately $4.04 million.
• Several analysts have raised their price targets for Assurant, with the average target now at $243.00 and an overall "Buy" rating from most analysts.
• Insider trading revealed that CAO Dimitry Dirienzo sold 950 shares, and EVP Jay Rosenblum sold 3,900 shares, indicating notable insider activity amidst a broader trend of institutional investment in the company.

Vest Financial LLC increased its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 24.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,475 shares of the financial services provider's stock after acquiring an additional 4,047 shares during the quarter. Vest Financial LLC's holdings in Assurant were worth $4,044,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AIZ. Yousif Capital Management LLC raised its holdings in Assurant by 49.1% in the 1st quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider's stock worth $2,137,000 after acquiring an additional 3,356 shares during the period. CX Institutional acquired a new stake in Assurant in the 1st quarter worth $131,000. Fifth Third Bancorp grew its position in Assurant by 4.6% in the 1st quarter. Fifth Third Bancorp now owns 2,079 shares of the financial services provider's stock worth $436,000 after purchasing an additional 91 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Assurant by 1.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,135 shares of the financial services provider's stock worth $1,287,000 after purchasing an additional 101 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in Assurant by 29.6% in the 1st quarter. Ritholtz Wealth Management now owns 5,248 shares of the financial services provider's stock worth $1,101,000 after purchasing an additional 1,199 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Piper Sandler raised their price target on shares of Assurant from $238.00 to $248.00 and gave the stock an "overweight" rating in a research report on Friday. Benchmark began coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued a "buy" rating on the stock. BMO Capital Markets began coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 target price on the stock. Finally, UBS Group lifted their target price on shares of Assurant from $250.00 to $255.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $243.00.

Insider Activity at Assurant

In other news, CAO Dimitry Dirienzo sold 950 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $204.96, for a total value of $194,712.00. Following the completion of the transaction, the chief accounting officer owned 3,135 shares in the company, valued at $642,549.60. This represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of the transaction, the executive vice president owned 7,875 shares of the company's stock, valued at $1,642,173.75. This trade represents a 33.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,125 shares of company stock worth $5,917,925. 0.51% of the stock is currently owned by company insiders.

Assurant Stock Up 0.2%

Shares of NYSE AIZ opened at $217.70 on Tuesday. The stock has a market cap of $10.99 billion, a P/E ratio of 15.76 and a beta of 0.55. The firm has a 50 day moving average price of $212.91 and a 200 day moving average price of $200.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter. The firm had revenue of $2.42 billion during the quarter. Assurant had a net margin of 5.83% and a return on equity of 16.47%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. Analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.80 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. Assurant's payout ratio is currently 23.17%.

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.

Want to see what other hedge funds are holding AIZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Assurant, Inc. (NYSE:AIZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.