Tectonic Advisors LLC Grows Position in Assurant, Inc. (NYSE:AIZ)

Tectonic Advisors LLC boosted its holdings in Assurant, Inc. (NYSE:AIZ) by 3.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,745 shares of the financial services provider’s stock after buying an additional 100 shares during the quarter. Tectonic Advisors LLC’s holdings in Assurant were worth $546,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Assurant during the second quarter valued at approximately $31,000. Richardson Financial Services Inc. grew its position in 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 purchasing an additional 77 shares during the period. Family Firm Inc. purchased a new stake in Assurant during the 2nd quarter valued at $51,000. Blue Trust Inc. lifted its holdings in shares of Assurant by 40.1% during the 2nd quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock valued at $59,000 after buying an additional 101 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Assurant by 35.7% in the 1st quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock worth $65,000 after buying an additional 91 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Analyst Ratings Changes

AIZ has been the subject of a number of research reports. Keefe, Bruyette & Woods upped 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 increased their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Bank of America boosted their target price on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, UBS Group boosted their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and an average price target of $214.60.

Assurant Trading Down 1.5 %

Assurant stock opened at $191.77 on Friday. Assurant, Inc. has a 12-month low of $145.48 and a 12-month high of $201.55. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.61 and a beta of 0.57. The firm has a 50 day moving average of $194.20 and a 200 day moving average of $179.73. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.89 billion. During the same period in the prior year, the company posted $3.89 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts predict that Assurant, Inc. will post 16.54 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is 20.10%.

Insider Transactions at Assurant

In related news, EVP Martin Jenns sold 1,500 shares of the business’s 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 transaction, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 in the company, valued at $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Assurant 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.