Assurant, Inc. $AIZ Shares Bought by State of Wyoming

State of Wyoming raised its position in Assurant, Inc. (NYSE:AIZ) by 2,219.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,435 shares of the financial services provider’s stock after buying an additional 2,330 shares during the quarter. State of Wyoming’s holdings in Assurant were worth $586,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of AIZ. CYBER HORNET ETFs LLC acquired a new position in Assurant in the 2nd quarter valued at $27,000. Montag A & Associates Inc. acquired a new position in Assurant in the 4th quarter valued at $28,000. Smartleaf Asset Management LLC increased its stake in Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after buying an additional 59 shares during the period. BOKF NA acquired a new position in Assurant in the 3rd quarter valued at $32,000. Finally, UMB Bank n.a. increased its stake in Assurant by 360.0% in the 3rd quarter. UMB Bank n.a. now owns 161 shares of the financial services provider’s stock valued at $35,000 after buying an additional 126 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIZ has been the topic of several recent research reports. Piper Sandler boosted their price objective on shares of Assurant from $268.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods upped their price target on shares of Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. UBS Group upped their price target on shares of Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, BMO Capital Markets lowered their price target on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $275.83.

Assurant Price Performance

Assurant stock opened at $257.47 on Friday. Assurant, Inc. has a 52 week low of $183.39 and a 52 week high of $260.96. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The firm’s 50-day simple moving average is $236.08 and its 200 day simple moving average is $231.87. The firm has a market capitalization of $12.76 billion, a PE ratio of 13.17 and a beta of 0.56.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping the consensus estimate of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the firm earned $5.79 EPS. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Assurant, Inc. will post 21.04 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 8th will be given a $0.88 dividend. The ex-dividend date is Monday, June 8th. This represents a $3.52 annualized dividend and a dividend yield of 1.4%. Assurant’s payout ratio is currently 18.01%.

Insider Buying and Selling at Assurant

In related news, EVP Keith Meier sold 25,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the sale, the executive vice president directly owned 18,552 shares in the company, valued at $4,717,959.12. The trade was a 57.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dimitry Dirienzo sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was 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 in the company, valued at $700,818.88. This represents a 42.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 31,650 shares of company stock valued at $7,930,981 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

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.