1,566 Shares in Assurant, Inc. (NYSE:AIZ) Bought by Paloma Partners Management Co

Paloma Partners Management Co purchased a new position in Assurant, Inc. (NYSE:AIZ) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,566 shares of the financial services provider’s stock, valued at approximately $295,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Leuthold Group LLC purchased a new stake in Assurant in the first quarter worth $3,730,000. QRG Capital Management Inc. lifted its stake in Assurant by 210.7% in the first quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 5,903 shares during the period. GSA Capital Partners LLP purchased a new stake in Assurant in the first quarter worth $1,213,000. Naples Money Management LLC purchased a new stake in Assurant in the fourth quarter worth $1,988,000. Finally, Truist Financial Corp lifted its stake in Assurant by 305.5% in the fourth quarter. Truist Financial Corp now owns 8,066 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 6,077 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Activity

In related news, insider Robert Lonergan sold 2,700 shares of Assurant stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $176.12, for a total value of $475,524.00. Following the completion of the sale, the insider now directly owns 19,786 shares in the company, valued at approximately $3,484,710.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Michael P. Campbell sold 1,304 shares of Assurant stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $173.35, for a total value of $226,048.40. Following the completion of the sale, the executive vice president now directly owns 24,586 shares in the company, valued at approximately $4,261,983.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Lonergan sold 2,700 shares of Assurant stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $176.12, for a total value of $475,524.00. Following the completion of the sale, the insider now owns 19,786 shares of the company’s stock, valued at $3,484,710.32. The disclosure for this sale can be found here. Insiders sold 12,788 shares of company stock worth $2,248,489 over the last three months. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Piper Sandler reissued an “overweight” rating and set a $205.00 price objective on shares of Assurant in a research report on Friday, June 28th. Keefe, Bruyette & Woods raised their price objective on Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research report on Wednesday, May 15th. Finally, Bank of America lowered their price objective on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $204.60.

Assurant Stock Up 2.0 %

Shares of NYSE:AIZ traded up $3.49 on Tuesday, hitting $176.14. 42,800 shares of the company traded hands, compared to its average volume of 348,070. Assurant, Inc. has a 52 week low of $133.13 and a 52 week high of $189.48. 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 stock has a 50 day simple moving average of $168.78 and a 200-day simple moving average of $173.30. The company has a market cap of $9.16 billion, a PE ratio of 12.04, a PEG ratio of 1.70 and a beta of 0.54.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.91. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. As a group, research analysts expect that Assurant, Inc. will post 16.14 earnings per share for the current year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.88 annualized dividend and a dividend yield of 1.64%. Assurant’s payout ratio is presently 20.10%.

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.