Mountain Pacific Investment Advisers Inc. ID Has $32.73 Million Stock Position in Assurant, Inc. (NYSE:AIZ)

Mountain Pacific Investment Advisers Inc. ID lowered its stake in Assurant, Inc. (NYSE:AIZ) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 173,850 shares of the financial services provider’s stock after selling 799 shares during the quarter. Assurant comprises approximately 1.8% of Mountain Pacific Investment Advisers Inc. ID’s holdings, making the stock its 22nd largest holding. Mountain Pacific Investment Advisers Inc. ID’s holdings in Assurant were worth $32,726,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIZ. Norges Bank bought a new position in Assurant during the fourth quarter worth about $108,253,000. Federated Hermes Inc. increased its position in Assurant by 75.1% during the third quarter. Federated Hermes Inc. now owns 376,975 shares of the financial services provider’s stock worth $54,126,000 after buying an additional 161,671 shares during the last quarter. Gillson Capital LP acquired a new position in Assurant during the fourth quarter worth approximately $27,013,000. Northern Trust Corp grew its position in shares of Assurant by 23.4% in the fourth quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock valued at $124,194,000 after purchasing an additional 139,680 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Assurant by 279.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 179,663 shares of the financial services provider’s stock valued at $30,271,000 after purchasing an additional 132,275 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AIZ shares. Piper Sandler boosted their price target on Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Keefe, Bruyette & Woods increased their price target on Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Assurant currently has an average rating of “Moderate Buy” and an average price target of $200.25.

Assurant Trading Down 0.5 %

Assurant stock traded down $0.86 during trading hours on Friday, reaching $168.74. 459,115 shares of the company’s stock were exchanged, compared to its average volume of 317,533. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.42. The firm’s 50 day simple moving average is $172.58 and its 200 day simple moving average is $173.13. Assurant, Inc. has a twelve month low of $121.51 and a twelve month high of $189.48. The firm has a market capitalization of $8.77 billion, a PE ratio of 11.78, a PEG ratio of 1.69 and a beta of 0.56.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $4.78 EPS for the quarter, beating the consensus estimate of $3.87 by $0.91. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. Research analysts predict that Assurant, Inc. will post 16.2 earnings per share for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.88 annualized dividend and a dividend yield of 1.71%. Assurant’s dividend payout ratio is presently 20.10%.

Insider Activity at Assurant

In other news, insider Robert Lonergan sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.12, for a total transaction of $475,524.00. Following the completion of the sale, the insider now owns 19,786 shares in the company, valued at approximately $3,484,710.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Robert Lonergan sold 2,700 shares of Assurant stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.12, for a total value of $475,524.00. Following the completion of the transaction, the insider now directly owns 19,786 shares in the company, valued at approximately $3,484,710.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dimitry Dirienzo sold 2,084 shares of Assurant stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $175.29, for a total transaction of $365,304.36. Following the completion of the transaction, the chief accounting officer now owns 3,702 shares of the company’s stock, valued at $648,923.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,788 shares of company stock valued at $2,248,489. 0.53% of the stock is owned by corporate insiders.

About Assurant

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.