Securian Asset Management Inc. Trims Stock Position in Assurant, Inc. $AIZ

Securian Asset Management Inc. cut its stake in shares of Assurant, Inc. (NYSE:AIZ) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,571 shares of the financial services provider’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Assurant were worth $508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in shares of Assurant by 12.7% during the first quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider’s stock valued at $784,603,000 after purchasing an additional 420,069 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Assurant by 28.0% during the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider’s stock valued at $310,285,000 after purchasing an additional 323,573 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Assurant by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider’s stock valued at $186,533,000 after purchasing an additional 72,046 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Assurant by 1.1% during the first quarter. Northern Trust Corp now owns 841,006 shares of the financial services provider’s stock valued at $176,401,000 after purchasing an additional 9,142 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Assurant by 5.6% during the first quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider’s stock valued at $121,951,000 after purchasing an additional 30,629 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.

Insider Transactions at Assurant

In other news, CAO Dimitry Dirienzo sold 950 shares of Assurant stock in a transaction on Friday, August 8th. The shares were sold at an average price of $204.96, for a total transaction of $194,712.00. Following the completion of the sale, the chief accounting officer directly owned 3,135 shares in the company, valued at approximately $642,549.60. The trade was a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Keith Demmings sold 13,725 shares of Assurant stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the sale, the chief executive officer owned 84,647 shares of the company’s stock, valued at $18,666,356.44. The trade was a 13.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,125 shares of company stock worth $5,917,925. Company insiders own 0.51% of the company’s stock.

Assurant Price Performance

Shares of AIZ opened at $211.95 on Friday. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 15.35 and a beta of 0.55. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $230.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average of $213.90 and a two-hundred day moving average of $201.58.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business had revenue of $2.42 billion during the quarter. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. As a group, analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Assurant’s payout ratio is presently 23.17%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AIZ shares. UBS Group increased their price objective on shares of Assurant from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Morgan Stanley increased their price objective on shares of Assurant from $230.00 to $232.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Piper Sandler raised their target price on shares of Assurant from $238.00 to $248.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. BMO Capital Markets started coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued an “outperform” rating and a $238.00 target price for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Assurant in a research note on Friday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $243.00.

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.