Yousif Capital Management LLC Sells 3,654 Shares of Assurant, Inc. $AIZ

Key Points

• Yousif Capital Management LLC reduced its holdings in Assurant, Inc. by 35.9%, selling 3,654 shares to end the second quarter with 6,533 shares valued at approximately $1.29 million.
• Insider trading activity included a sale of 950 shares by CAO Dimitry Dirienzo and 3,900 shares by EVP Jay Rosenblum, indicating a notable decrease in their respective ownership positions.
• Analysts maintain a consensus rating of "Buy" for Assurant, with price targets ranging from $225 to $255, reflecting strong optimism about the company's performance moving forward.

Yousif Capital Management LLC reduced its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 35.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,533 shares of the financial services provider's stock after selling 3,654 shares during the period. Yousif Capital Management LLC's holdings in Assurant were worth $1,290,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AIZ. Zions Bancorporation National Association UT bought a new stake in shares of Assurant in the 1st quarter valued at about $26,000. Alpine Bank Wealth Management bought a new stake in shares of Assurant in the 1st quarter valued at about $28,000. REAP Financial Group LLC boosted its holdings in shares of Assurant by 193.9% in the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider's stock valued at $29,000 after buying an additional 95 shares in the last quarter. Private Trust Co. NA raised its position in shares of Assurant by 192.2% in the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 122 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages recently commented on AIZ. UBS Group increased their price objective 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. Morgan Stanley increased their price objective on shares of Assurant from $230.00 to $232.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 7th. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler increased their price objective on shares of Assurant from $238.00 to $248.00 and gave the company an "overweight" rating in a research report on Friday, October 10th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $243.00.

Assurant Stock Performance

AIZ opened at $209.14 on Tuesday. Assurant, Inc. has a 12-month low of $174.97 and a 12-month high of $230.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $10.55 billion, a PE ratio of 15.14 and a beta of 0.55. The firm has a 50 day moving average of $213.98 and a two-hundred day moving average of $201.02.

Assurant (NYSE:AIZ - Get Free Report) last posted its earnings results on Thursday, March 24th. The financial services provider reported $1.80 earnings per share 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. On average, analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

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

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