Nisa Investment Advisors LLC Has $5.38 Million Position in Assurant, Inc. $AIZ

Nisa Investment Advisors LLC decreased its stake in shares of Assurant, Inc. (NYSE:AIZ) by 7.4% during the 2nd quarter, Holdings Channel reports. The firm owned 27,228 shares of the financial services provider’s stock after selling 2,168 shares during the period. Nisa Investment Advisors LLC’s holdings in Assurant were worth $5,377,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. increased its holdings in Assurant by 12.0% during the first quarter. Principal Financial Group Inc. now owns 79,289 shares of the financial services provider’s stock worth $16,631,000 after buying an additional 8,478 shares during the last quarter. Private Trust Co. NA increased its stake in shares of Assurant by 192.2% during the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Assurant by 14.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,163 shares of the financial services provider’s stock worth $1,271,000 after purchasing an additional 766 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Assurant by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,501 shares of the financial services provider’s stock worth $74,357,000 after purchasing an additional 24,153 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Assurant by 42.0% during the 1st quarter. Pacer Advisors Inc. now owns 8,264 shares of the financial services provider’s stock worth $1,733,000 after purchasing an additional 2,446 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Trading Down 2.0%

Shares of Assurant stock opened at $208.05 on Wednesday. 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 market capitalization of $10.50 billion, a price-to-earnings ratio of 15.07 and a beta of 0.55. The firm’s 50-day moving average price is $213.84 and its two-hundred day moving average price is $202.05. Assurant, Inc. has a 12-month low of $174.97 and a 12-month high of $230.55.

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

Assurant Dividend Announcement

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

Insider Transactions at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of Assurant stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $204.96, for a total transaction of $194,712.00. Following the transaction, the chief accounting officer directly owned 3,135 shares of the company’s stock, valued at approximately $642,549.60. The trade was a 23.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jay Rosenblum sold 3,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of the transaction, the executive vice president owned 7,875 shares in the company, valued at $1,642,173.75. This trade represents a 33.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 27,125 shares of company stock worth $5,917,925. Company insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. BMO Capital Markets assumed coverage on Assurant in a report on Tuesday, August 12th. They set an “outperform” rating and a $238.00 target price on the stock. Morgan Stanley upped their price objective on shares of Assurant from $230.00 to $232.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Assurant in a report on Wednesday, October 8th. UBS Group upped their price objective on shares of Assurant from $250.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Benchmark began coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued a “buy” rating on the stock. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and a consensus price target 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.