Atomi Financial Group Inc. Makes New $242,000 Investment in Assurant, Inc. (NYSE:AIZ)

Atomi Financial Group Inc. purchased a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,215 shares of the financial services provider’s stock, valued at approximately $242,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AIZ. Leuthold Group LLC purchased a new stake in Assurant during the first quarter valued at about $3,730,000. QRG Capital Management Inc. boosted its holdings in Assurant by 210.7% in the 1st quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock worth $1,639,000 after buying an additional 5,903 shares during the period. GSA Capital Partners LLP purchased a new position in Assurant in the 1st quarter valued at approximately $1,213,000. SteelPeak Wealth LLC raised 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 valued at $2,170,000 after acquiring an additional 11,551 shares during the period. Finally, Los Angeles Capital Management LLC lifted its position in shares of Assurant by 3.0% during the first 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 in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

Shares of NYSE:AIZ opened at $191.89 on Monday. The company’s fifty day moving average price is $190.78 and its 200-day moving average price is $178.93. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.61 and a beta of 0.57. Assurant, Inc. has a one year low of $144.61 and a one year high of $201.55.

Assurant (NYSE:AIZ) last released its earnings results 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. 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 analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the firm earned $3.89 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Assurant, Inc. will post 16.54 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.50%. The ex-dividend date was Tuesday, September 3rd. Assurant’s dividend payout ratio is currently 20.10%.

Insider Buying and Selling at Assurant

In other news, 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 value of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 dated 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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AIZ. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. UBS Group upped their price target on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Bank of America raised their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods upped their target price on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Finally, Piper Sandler raised their price target on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Assurant presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.60.

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.