Vanguard Personalized Indexing Management LLC Buys 496 Shares of Assurant, Inc. $AIZ

Vanguard Personalized Indexing Management LLC boosted its position in Assurant, Inc. (NYSE:AIZ) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,241 shares of the financial services provider’s stock after purchasing an additional 496 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Assurant were worth $2,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of AIZ. Zions Bancorporation National Association UT bought a new stake in Assurant in the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management purchased a new position in Assurant during the 1st quarter valued at about $28,000. REAP Financial Group LLC raised its holdings in shares of Assurant by 193.9% during the second quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 95 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Assurant by 192.2% in 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 period. Finally, Assetmark Inc. grew its holdings in shares of Assurant by 312.8% during the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 122 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AIZ. UBS Group raised their price objective on Assurant from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. BMO Capital Markets assumed coverage on Assurant in a research note on Tuesday, August 12th. They set an “outperform” rating and a $238.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on Assurant from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Stephens began coverage on Assurant in a research report on Tuesday, August 12th. They issued an “overweight” rating on the stock. Finally, Benchmark started coverage on shares of Assurant in a research note on Tuesday, August 12th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $243.00.

Insider Buying and Selling

In other news, CAO Dimitry Dirienzo sold 950 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $204.96, for a total value of $194,712.00. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith Demmings sold 13,725 shares of Assurant stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $220.52, for a total value of $3,026,637.00. Following the completion of the transaction, the chief executive officer directly owned 84,647 shares of the company’s stock, valued at approximately $18,666,356.44. This represents a 13.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,125 shares of company stock worth $5,917,925. 0.51% of the stock is owned by insiders.

Assurant Stock Down 3.1%

Shares of Assurant stock opened at $215.04 on Thursday. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $230.55. The firm’s 50 day moving average price is $213.68 and its 200-day moving average price is $200.98. 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 cap of $10.85 billion, a P/E ratio of 15.57 and a beta of 0.55.

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

Assurant Announces Dividend

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

Assurant 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.