Assurant, Inc. $AIZ Shares Sold by Accurate Wealth Management LLC

Accurate Wealth Management LLC cut its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 21.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,603 shares of the financial services provider’s stock after selling 2,609 shares during the period. Accurate Wealth Management LLC’s holdings in Assurant were worth $2,286,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of Assurant during the second quarter valued at about $27,000. Smartleaf Asset Management LLC boosted 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 worth $32,000 after purchasing an additional 59 shares in the last quarter. BOKF NA purchased a new stake in Assurant during the 3rd quarter worth approximately $32,000. Finally, Root Financial Partners LLC acquired a new position in Assurant during the 3rd quarter valued at approximately $34,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Price Performance

Shares of NYSE AIZ opened at $212.97 on Friday. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 12.55 and a beta of 0.58. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $246.31. The firm’s 50 day simple moving average is $226.27 and its 200-day simple moving average is $224.45. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.55 by $0.06. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the business posted $4.79 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. Analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.7%. Assurant’s dividend payout ratio (DPR) is 20.74%.

Analyst Ratings Changes

Several research firms have recently commented on AIZ. Wall Street Zen downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. BMO Capital Markets cut their target price on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Truist Financial raised their target price on Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Finally, Piper Sandler increased their price objective on Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $258.17.

Insider Activity

In other Assurant news, EVP Subhashish Sengupta sold 1,880 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the transaction, the executive vice president owned 2,895 shares in the company, valued at approximately $609,484.35. This represents a 39.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 750 shares of the stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.98, for a total value of $158,235.00. Following the transaction, the chief accounting officer owned 4,741 shares in the company, valued at $1,000,256.18. This represents a 13.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 2,650 shares of company stock valued at $558,331. 0.51% of the stock is owned by company insiders.

About Assurant

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.