13,714 Shares in Assurant, Inc. (NYSE:AIZ) Acquired by Accurate Wealth Management LLC

Accurate Wealth Management LLC bought a new stake in Assurant, Inc. (NYSE:AIZ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,714 shares of the financial services provider’s stock, valued at approximately $2,728,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its position in shares of Assurant by 256.7% during the second quarter. Acadian Asset Management LLC now owns 1,202 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 865 shares in the last quarter. American Century Companies Inc. increased its stake in Assurant by 1.4% during the 2nd quarter. American Century Companies Inc. now owns 24,905 shares of the financial services provider’s stock worth $4,140,000 after buying an additional 345 shares during the period. Forsta AP Fonden purchased a new stake in Assurant during the 2nd quarter worth approximately $732,000. DekaBank Deutsche Girozentrale lifted its holdings in Assurant by 36.5% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 9,140 shares of the financial services provider’s stock worth $1,528,000 after buying an additional 2,442 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Assurant by 21.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,367 shares of the financial services provider’s stock valued at $726,000 after buying an additional 768 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

Shares of NYSE AIZ opened at $204.79 on Wednesday. The stock’s 50-day simple moving average is $215.60 and its 200-day simple moving average is $196.09. The firm has a market capitalization of $10.50 billion, a PE ratio of 14.61 and a beta of 0.62. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.52 by $0.48. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $4.29 earnings per share. As a group, equities research analysts forecast that Assurant, Inc. will post 15.38 EPS for the current fiscal year.

Assurant Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were paid a dividend of $0.80 per share. This is a positive change from Assurant’s previous quarterly dividend of $0.72. This represents a $3.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Monday, December 9th. Assurant’s dividend payout ratio (DPR) is currently 22.82%.

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now owns 20,658 shares in the company, valued at approximately $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AIZ has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price objective on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Piper Sandler boosted their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America upped their target price on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, UBS Group lifted their price target on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Assurant presently has a consensus rating of “Hold” and an average price target of $229.50.

Assurant Company 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.