Perpetual Ltd Purchases Shares of 4,192 Assurant, Inc. (NYSE:AIZ)

Perpetual Ltd bought a new position in Assurant, Inc. (NYSE:AIZ) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,192 shares of the financial services provider’s stock, valued at approximately $789,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in shares of Assurant in the fourth quarter worth approximately $25,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Assurant in the fourth quarter worth approximately $40,000. Assetmark Inc. bought a new position in shares of Assurant in the fourth quarter worth approximately $44,000. Parkside Financial Bank & Trust grew its holdings in shares of Assurant by 52.0% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 106 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Assurant by 839.4% in the fourth quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 277 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

AIZ has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a report on Wednesday, May 15th. Piper Sandler raised their price target on Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Assurant presently has a consensus rating of “Moderate Buy” and an average price target of $200.25.

Insider Buying and Selling

In related news, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $176.36, for a total value of $1,181,612.00. Following the completion of the sale, the chief operating officer now directly owns 10,748 shares in the company, valued at approximately $1,895,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $176.36, for a total value of $1,181,612.00. Following the completion of the sale, the chief operating officer now directly owns 10,748 shares in the company, valued at approximately $1,895,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael P. Campbell sold 1,304 shares of Assurant stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $173.35, for a total value of $226,048.40. Following the completion of the sale, the executive vice president now owns 24,586 shares of the company’s stock, valued at $4,261,983.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,788 shares of company stock worth $2,248,489. 0.53% of the stock is owned by corporate insiders.

Assurant Stock Performance

Shares of Assurant stock opened at $169.60 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $8.82 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.68 and a beta of 0.56. The business has a fifty day simple moving average of $172.69 and a two-hundred day simple moving average of $173.14. Assurant, Inc. has a 12 month low of $121.51 and a 12 month high of $189.48.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.91. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. On average, equities analysts forecast that Assurant, Inc. will post 16.2 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Monday, June 10th. Assurant’s dividend payout ratio is presently 20.10%.

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.