Assurant, Inc. $AIZ Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP reduced its holdings in Assurant, Inc. (NYSE:AIZ) by 70.6% during the 4th quarter, Holdings Channel reports. The fund owned 4,113 shares of the financial services provider’s stock after selling 9,862 shares during the quarter. Aigen Investment Management LP’s holdings in Assurant were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in AIZ. Bank of New York Mellon Corp boosted its stake in Assurant by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider’s stock valued at $1,213,968,000 after purchasing an additional 29,974 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Assurant by 6.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 919,639 shares of the financial services provider’s stock worth $221,500,000 after acquiring an additional 57,139 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Assurant by 7.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 697,555 shares of the financial services provider’s stock worth $168,006,000 after acquiring an additional 49,698 shares in the last quarter. Norges Bank bought a new stake in shares of Assurant during the 4th quarter worth $161,574,000. Finally, Morgan Stanley boosted its stake in shares of Assurant by 5.2% during the 4th quarter. Morgan Stanley now owns 640,431 shares of the financial services provider’s stock worth $154,248,000 after acquiring an additional 31,432 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Assurant

In related news, EVP Keith Meier sold 25,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $254.31, for a total transaction of $6,357,750.00. Following the completion of the sale, the executive vice president directly owned 18,552 shares in the company, valued at approximately $4,717,959.12. This trade represents a 57.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Subhashish Sengupta sold 1,880 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $210.53, for a total value of $395,796.40. Following the sale, the executive vice president owned 2,895 shares of the company’s stock, valued at approximately $609,484.35. This represents a 39.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,650 shares of company stock valued at $7,930,981 in the last three months. 0.54% of the stock is currently owned by insiders.

Assurant Stock Performance

Shares of Assurant stock opened at $260.67 on Monday. The stock has a market cap of $12.92 billion, a PE ratio of 13.33 and a beta of 0.56. The business has a fifty day simple moving average of $240.07 and a 200-day simple moving average of $232.98. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 12 month low of $183.39 and a 12 month high of $261.10.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping the consensus estimate of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter last year, the firm posted $5.79 earnings per share. Assurant’s revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Assurant, Inc. will post 21.04 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 8th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, June 8th. Assurant’s dividend payout ratio (DPR) is currently 18.01%.

Analyst Ratings Changes

Several research firms have recently weighed in on AIZ. Morgan Stanley raised Assurant from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $240.00 to $285.00 in a research note on Thursday, May 14th. Weiss Ratings raised Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods raised their price objective on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. UBS Group raised their price objective on Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Truist Financial raised their target price on Assurant from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $275.83.

Assurant Company Profile

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.