43,551 Shares in Assurant, Inc. $AIZ Acquired by Dockside LLC

Dockside LLC purchased a new stake in Assurant, Inc. (NYSE:AIZ) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 43,551 shares of the financial services provider’s stock, valued at approximately $11,695,000. Assurant accounts for approximately 2.7% of Dockside LLC’s portfolio, making the stock its biggest position.

A number of other hedge funds also recently modified their holdings of AIZ. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant in the second quarter worth $27,000. Montag A & Associates Inc. bought a new position in Assurant during the 4th quarter worth $28,000. BOKF NA acquired a new position in Assurant during the 3rd quarter worth about $32,000. Western Wealth Management LLC bought a new stake in shares of Assurant in the 1st quarter valued at about $33,000. Finally, Arlington Trust Co LLC grew its position in shares of Assurant by 81.4% in the 2nd quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock valued at $34,000 after buying an additional 57 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insider Activity at Assurant

In other news, EVP Nair Biju sold 3,931 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $302.46, for a total value of $1,188,970.26. Following the completion of the sale, the executive vice president owned 24,247 shares in the company, valued at $7,333,747.62. This represents a 13.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Dimitry Dirienzo sold 2,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total transaction of $511,360.00. Following the completion of the sale, the chief accounting officer owned 2,741 shares of the company’s stock, valued at approximately $700,818.88. This represents a 42.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,931 shares of company stock valued at $3,539,300. 0.54% of the stock is owned by insiders.

Assurant Stock Up 0.7%

Shares of NYSE AIZ opened at $282.76 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36. The firm has a market cap of $13.95 billion, a PE ratio of 13.50 and a beta of 0.55. The company’s fifty day simple moving average is $273.81 and its 200 day simple moving average is $246.17. Assurant, Inc. has a 12-month low of $205.01 and a 12-month high of $303.94.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $5.17 by $1.24. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the previous year, the company posted $5.56 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts forecast that Assurant, Inc. will post 21.61 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, August 31st will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. Assurant’s dividend payout ratio is presently 16.81%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AIZ shares. Keefe, Bruyette & Woods raised their price objective on Assurant from $310.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Piper Sandler increased their price objective on shares of Assurant from $290.00 to $329.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada set a $310.00 target price on shares of Assurant in a research note on Wednesday, June 17th. Finally, Truist Financial boosted their target price on shares of Assurant from $310.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $313.71.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.