Systematic Financial Management LP Sells 90 Shares of Assurant, Inc. (NYSE:AIZ)

Systematic Financial Management LP cut its stake in Assurant, Inc. (NYSE:AIZ) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,876 shares of the financial services provider’s stock after selling 90 shares during the period. Systematic Financial Management LP’s holdings in Assurant were worth $2,639,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Leuthold Group LLC acquired a new position in shares of Assurant in the 1st quarter valued at $3,730,000. QRG Capital Management Inc. grew its holdings in Assurant by 210.7% during the 1st quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 5,903 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Assurant during the 1st quarter worth about $1,213,000. SteelPeak Wealth LLC grew its holdings in Assurant by 770.1% during the 2nd quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock worth $2,170,000 after acquiring an additional 11,551 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Assurant by 3.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 249,152 shares of the financial services provider’s stock worth $46,900,000 after acquiring an additional 7,150 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

Insider Transactions at Assurant

In other news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction on 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 $593,962.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the sale, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AIZ shares. Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. 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. Bank of America lowered their price target on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Finally, Piper Sandler cut shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price objective for the company. in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Assurant has an average rating of “Moderate Buy” and a consensus price target of $209.00.

Assurant Stock Performance

Shares of AIZ opened at $199.95 on Monday. 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 firm’s 50 day moving average price is $186.48 and its two-hundred day moving average price is $178.04. The firm has a market cap of $10.39 billion, a P/E ratio of 13.95, a PEG ratio of 1.68 and a beta of 0.57.

Assurant (NYSE:AIZ) last announced 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 net margin of 6.90% and a return on equity of 19.63%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the previous year, the firm posted $3.89 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that Assurant, Inc. will post 16.54 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently disclosed 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 is Tuesday, September 3rd. Assurant’s dividend payout ratio is presently 20.10%.

About Assurant

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.