Assurant, Inc. (NYSE:AIZ) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 21.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,367 shares of the financial services provider’s stock after purchasing an additional 768 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Assurant were worth $726,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Assurant in the second quarter valued at approximately $31,000. Assetmark Inc. purchased a new position in Assurant during the 4th quarter worth $44,000. Quarry LP acquired a new stake in shares of Assurant in the 4th quarter worth $51,000. Family Firm Inc. purchased a new stake in shares of Assurant in the second quarter valued at about $51,000. Finally, Covestor Ltd increased its stake in shares of Assurant by 35.7% during the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 91 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Assurant

In related news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Assurant Trading Up 0.1 %

NYSE:AIZ opened at $194.27 on Friday. The company has a market capitalization of $10.10 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57. Assurant, Inc. has a 52-week low of $141.30 and a 52-week high of $199.50. The stock has a fifty day simple moving average of $183.77 and a 200-day simple moving average of $177.39. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm earned $3.89 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Assurant, Inc. will post 16.54 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, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, September 3rd. Assurant’s payout ratio is 20.10%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AIZ shares. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Bank of America decreased their price target on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Keefe, Bruyette & Woods raised their target price on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Piper Sandler cut shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research note on Thursday, August 22nd. Finally, UBS Group boosted their price objective on shares of Assurant from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $207.60.

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.