1,988 Shares in Assurant, Inc. (NYSE:AIZ) Purchased by MQS Management LLC

MQS Management LLC acquired a new position in Assurant, Inc. (NYSE:AIZ) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,988 shares of the financial services provider’s stock, valued at approximately $331,000.

Several other large investors also recently bought and sold shares of the company. Catalyst Financial Partners LLC boosted its stake in shares of Assurant by 4.2% in the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 59 shares during the last quarter. Empirical Finance LLC boosted its stake in Assurant by 3.3% during the 1st quarter. Empirical Finance LLC now owns 1,980 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 64 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Assurant by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider’s stock worth $1,200,000 after buying an additional 73 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in shares of Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after buying an additional 77 shares in the last quarter. Finally, Covestor Ltd lifted its stake in shares of Assurant by 35.7% in the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock worth $65,000 after buying an additional 91 shares in the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Stock Performance

Shares of Assurant stock opened at $194.27 on Friday. The business’s fifty day simple moving average is $183.77 and its 200-day simple moving average is $177.39. 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 firm has a market cap of $10.10 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57. Assurant, Inc. has a 52 week low of $141.30 and a 52 week high of $199.50.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.50. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. Assurant’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.89 earnings per share. Equities analysts forecast that Assurant, Inc. will post 16.54 earnings per share for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 1.48%. The ex-dividend date of this dividend is Tuesday, September 3rd. Assurant’s payout ratio is 20.10%.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 550 shares of Assurant 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 completion of the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Martin Jenns sold 1,500 shares of the 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 sale, the executive vice president now 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 can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on AIZ. Piper Sandler downgraded 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. Bank of America reduced their price objective on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Keefe, Bruyette & Woods upped their target price on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Finally, UBS Group upped their price objective on shares of Assurant from $210.00 to $217.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Assurant currently has an average rating of “Moderate Buy” and an average target price of $207.60.

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.