Assurant, Inc. (NYSE:AIZ) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its position in Assurant, Inc. (NYSE:AIZ) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 172,579 shares of the financial services provider’s stock after selling 4,669 shares during the period. Millennium Management LLC’s holdings in Assurant were worth $28,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in shares of Assurant in the second quarter valued at about $31,000. Richardson Financial Services Inc. boosted its position in Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares during the last quarter. Quarry LP acquired a new position in Assurant in the 4th quarter worth approximately $51,000. Family Firm Inc. purchased a new position in Assurant during the 2nd quarter worth approximately $51,000. Finally, Covestor Ltd lifted its stake in Assurant by 35.7% during the 1st quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

AIZ has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Bank of America reduced their price objective on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. UBS Group upped their target price on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Piper Sandler lifted their price target on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three equities research 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 currently has a consensus rating of “Moderate Buy” and an average price target of $212.40.

Insider Buying and Selling at Assurant

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

Assurant Price Performance

Shares of Assurant stock opened at $196.47 on Friday. The firm has a market cap of $10.21 billion, a PE ratio of 13.71, a P/E/G ratio of 1.68 and a beta of 0.57. Assurant, Inc. has a twelve month low of $142.01 and a twelve month high of $201.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. The business has a 50-day moving average price of $188.74 and a 200 day moving average price of $178.55.

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

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date was Tuesday, September 3rd. Assurant’s dividend payout ratio is presently 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.