Assurant, Inc. (NYSE:AIZ) Stock Position Boosted by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in shares of Assurant, Inc. (NYSE:AIZ) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,823 shares of the financial services provider’s stock after buying an additional 166 shares during the quarter. Pacer Advisors Inc.’s holdings in Assurant were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Innealta Capital LLC bought a new stake in Assurant during the second quarter worth approximately $31,000. Richardson Financial Services Inc. raised its stake in shares of Assurant by 62.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after buying an additional 77 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Assurant in the fourth quarter valued at $44,000. Quarry LP bought a new position in Assurant during the fourth quarter valued at about $51,000. Finally, Family Firm Inc. acquired a new position in Assurant during the second quarter worth about $51,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms have recently weighed in on AIZ. Piper Sandler lowered shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Thursday, August 22nd. UBS Group lifted their price target on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Bank of America decreased their target price on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods upped 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.00.

Assurant Trading Up 0.5 %

NYSE AIZ opened at $199.95 on Friday. The firm’s 50 day moving average price is $186.48 and its two-hundred day moving average price is $178.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. Assurant, Inc. has a twelve month low of $141.83 and a twelve month high of $201.55. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.68 and a beta of 0.57.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the company posted $3.89 earnings per share. Assurant’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is 20.10%.

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.