MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Cuts Position in Assurant, Inc. (NYSE:AIZ)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in shares of Assurant, Inc. (NYSE:AIZ) by 3.7% during the first quarter, Holdings Channel reports. The institutional investor owned 14,112 shares of the financial services provider’s stock after selling 538 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Assurant were worth $2,656,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of Assurant by 6.8% in the fourth quarter. CWM LLC now owns 976 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 62 shares during the period. Arizona State Retirement System boosted its holdings in shares of Assurant by 0.5% in the fourth quarter. Arizona State Retirement System now owns 14,573 shares of the financial services provider’s stock valued at $2,455,000 after acquiring an additional 73 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Assurant by 1.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider’s stock valued at $1,200,000 after acquiring an additional 73 shares during the period. Tectonic Advisors LLC boosted its holdings in shares of Assurant by 4.0% in the fourth quarter. Tectonic Advisors LLC now owns 2,197 shares of the financial services provider’s stock valued at $370,000 after acquiring an additional 85 shares during the period. Finally, Edmp Inc. boosted its holdings in shares of Assurant by 1.9% in the fourth quarter. Edmp Inc. now owns 6,075 shares of the financial services provider’s stock valued at $1,024,000 after acquiring an additional 113 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AIZ shares. Keefe, Bruyette & Woods upped their price target on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 15th. Piper Sandler restated an “overweight” rating and set a $205.00 price target on shares of Assurant in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.25.

Assurant Price Performance

Assurant stock opened at $165.90 on Wednesday. Assurant, Inc. has a 12 month low of $122.42 and a 12 month high of $189.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39. The business has a 50 day simple moving average of $171.74 and a 200-day simple moving average of $173.12. The stock has a market capitalization of $8.63 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 1.66 and a beta of 0.54.

Assurant (NYSE:AIZ) last released its quarterly earnings data 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 analysts’ expectations of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. Equities analysts predict that Assurant, Inc. will post 16.2 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, June 10th. Assurant’s payout ratio is 20.10%.

Insider Activity

In other news, insider Robert Lonergan sold 2,700 shares of Assurant stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.12, for a total transaction of $475,524.00. Following the completion of the transaction, the insider now owns 19,786 shares of the company’s stock, valued at approximately $3,484,710.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the completion of the transaction, the chief operating officer now owns 10,748 shares of the company’s stock, valued at approximately $1,895,517.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Lonergan sold 2,700 shares of Assurant stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.12, for a total value of $475,524.00. Following the transaction, the insider now directly owns 19,786 shares of the company’s stock, valued at approximately $3,484,710.32. The disclosure for this sale can be found here. Insiders sold a total of 12,788 shares of company stock worth $2,248,489 over the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

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.