Amalgamated Bank Has $2.81 Million Stock Position in Assurant, Inc. (NYSE:AIZ)

Amalgamated Bank lessened its holdings in Assurant, Inc. (NYSE:AIZ) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,890 shares of the financial services provider’s stock after selling 584 shares during the period. Amalgamated Bank’s holdings in Assurant were worth $2,808,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AIZ. Lyrical Asset Management LP raised its stake in shares of Assurant by 2.0% in the fourth quarter. Lyrical Asset Management LP now owns 783,257 shares of the financial services provider’s stock worth $131,971,000 after purchasing an additional 15,074 shares during the last quarter. Northern Trust Corp lifted its stake in Assurant by 23.4% during the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock valued at $124,194,000 after acquiring an additional 139,680 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Assurant by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock worth $116,159,000 after acquiring an additional 12,935 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Assurant by 20.4% in the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock worth $94,118,000 after acquiring an additional 96,021 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Assurant by 0.7% in the second quarter. Federated Hermes Inc. now owns 383,549 shares of the financial services provider’s stock valued at $63,765,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AIZ. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $186.00 to $194.00 and gave the stock 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 for the company. in a report on Thursday, August 22nd. Bank of America dropped their price target on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. UBS Group upped their price objective on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research note on Monday. Finally, StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $209.00.

Assurant Price Performance

Assurant stock opened at $198.01 on Tuesday. The business’s 50 day simple moving average is $184.31 and its 200 day simple moving average is $177.50. Assurant, Inc. has a 12 month low of $141.83 and a 12 month high of $199.50. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.60 and a beta of 0.57. 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 posted 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. 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 the consensus estimate of $2.89 billion. During the same quarter last year, the company earned $3.89 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Sell-side analysts forecast that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.88 annualized dividend and a yield of 1.45%. Assurant’s dividend payout ratio is currently 20.10%.

Insider Buying and Selling at Assurant

In other news, 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 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 SEC, which is available at this link. In other Assurant news, EVP Martin Jenns sold 1,500 shares of the company’s 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 directly owns 4,027 shares in the company, valued at approximately $717,329.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant 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 approximately $593,962.88. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

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.