Vise Technologies Inc. Invests $568,000 in Assurant, Inc. (NYSE:AIZ)

Vise Technologies Inc. bought a new position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,666 shares of the financial services provider's stock, valued at approximately $568,000.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Assurant by 36.7% during the fourth quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock valued at $708,016,000 after buying an additional 891,292 shares during the period. Norges Bank purchased a new position in Assurant during the fourth quarter valued at approximately $143,475,000. Millennium Management LLC increased its holdings in Assurant by 1,499.1% during the fourth quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider's stock valued at $73,375,000 after buying an additional 322,608 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in Assurant during the fourth quarter valued at approximately $34,365,000. Finally, Northern Trust Corp increased its holdings in Assurant by 23.1% during the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock valued at $177,370,000 after buying an additional 156,364 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Assurant

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of Assurant stock in a transaction on Friday, May 16th. The shares were sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the transaction, the executive vice president now owns 11,775 shares of the company's stock, valued at approximately $2,377,725.75. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is currently owned by insiders.

Assurant Stock Performance

Shares of NYSE:AIZ traded up $3.14 on Friday, hitting $203.10. 127,057 shares of the company were exchanged, compared to its average volume of 401,302. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The stock's 50 day moving average price is $196.17 and its 200 day moving average price is $206.85. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $10.33 billion, a P/E ratio of 14.07 and a beta of 0.59.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 EPS for the quarter, topping 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 the consensus estimate of $3.06 billion. During the same period in the previous year, the firm posted $4.78 earnings per share. The business's revenue for the quarter was up 6.7% compared to the same quarter last year. Sell-side analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.80 per share. 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 dividend payout ratio is presently 24.94%.

Analyst Ratings Changes

Several brokerages recently issued reports on AIZ. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley set a $217.00 price objective on shares of Assurant and gave the company an "equal weight" rating in a report on Monday, May 19th. Truist Financial lifted their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. 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 report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $224.00 to $225.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $228.67.

About Assurant

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.