MBB Public Markets I LLC Purchases New Stake in Assurant, Inc. (NYSE:AIZ)

MBB Public Markets I LLC acquired a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,900 shares of the financial services provider’s stock, valued at approximately $648,000.

A number of other hedge funds have also bought and sold shares of AIZ. AQR Capital Management LLC lifted its stake in Assurant by 32.5% during the second quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after purchasing an additional 255,471 shares during the last quarter. AMF Tjanstepension AB bought a new position in shares of Assurant in the 1st quarter worth about $39,013,000. Gillson Capital LP bought a new position in shares of Assurant in the 4th quarter worth about $27,013,000. Northern Trust Corp boosted its holdings in shares of Assurant by 23.4% in the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock valued at $124,194,000 after buying an additional 139,680 shares during the period. Finally, TD Asset Management Inc grew its position in shares of Assurant by 20.4% during the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after buying an additional 96,021 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now 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

A number of equities analysts have issued reports on AIZ shares. UBS Group raised their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods boosted their price objective on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Piper Sandler lowered Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research report on Thursday, August 22nd. Bank of America reduced their price target on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.00.

Assurant Trading Up 0.2 %

Shares of AIZ stock opened at $199.21 on Wednesday. Assurant, Inc. has a 1 year low of $141.83 and a 1 year high of $201.55. The firm has a market capitalization of $10.36 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57. The stock has a fifty day moving average of $187.07 and a two-hundred day moving average of $178.15. 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 (NYSE:AIZ) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the firm posted $3.89 EPS. Assurant’s revenue was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a yield of 1.45%. Assurant’s payout ratio is 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.