Tobias Financial Advisors Inc. Makes New Investment in Assurant, Inc. (NYSE:AIZ)

Tobias Financial Advisors Inc. purchased a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,200 shares of the financial services provider’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AIZ. AQR Capital Management LLC boosted its stake in Assurant by 32.5% in the second quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock valued at $173,179,000 after acquiring an additional 255,471 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Assurant by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock worth $116,159,000 after buying an additional 12,935 shares during the period. TD Asset Management Inc increased its position in shares of Assurant by 20.4% in the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after acquiring an additional 96,021 shares during the period. Federated Hermes Inc. raised its stake in Assurant by 0.7% in the 2nd quarter. Federated Hermes Inc. now owns 383,549 shares of the financial services provider’s stock worth $63,765,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Assurant by 18.0% during the 2nd quarter. Marshall Wace LLP now owns 203,778 shares of the financial services provider’s stock valued at $33,878,000 after purchasing an additional 31,150 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

Assurant Stock Up 1.1 %

AIZ opened at $193.23 on Wednesday. The company has a market cap of $10.01 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. Assurant, Inc. has a twelve month low of $158.29 and a twelve month high of $201.55. The company has a 50-day moving average price of $194.45 and a 200 day moving average price of $180.77. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.89 earnings per share. Sell-side analysts expect that Assurant, Inc. will post 14.13 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a yield of 1.49%. Assurant’s dividend payout ratio is presently 19.19%.

Insider Activity

In other news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at $717,329.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Piper Sandler lifted their price objective on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America increased their price target on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group upped their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Assurant has a consensus rating of “Hold” and a consensus price target of $217.00.

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.