2,520 Shares in Assurant, Inc. $AIZ Acquired by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC purchased a new stake in Assurant, Inc. (NYSE:AIZ) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,520 shares of the financial services provider’s stock, valued at approximately $549,000.

Several other hedge funds have also added to or reduced their stakes in AIZ. Bank of New York Mellon Corp raised its position in shares of Assurant by 0.6% in the fourth 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 during the period. Dimensional Fund Advisors LP boosted its holdings 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 buying an additional 57,139 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings 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 buying an additional 49,698 shares during the period. Norges Bank acquired a new position in Assurant in the 4th quarter valued at about $161,574,000. Finally, Morgan Stanley grew its stake in Assurant by 5.2% in the 4th quarter. Morgan Stanley now owns 640,431 shares of the financial services provider’s stock valued at $154,248,000 after buying an additional 31,432 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insider Buying and Selling

In related news, EVP Keith Meier sold 25,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $254.31, for a total value of $6,357,750.00. Following the transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jay Rosenblum sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $251.77, for a total value of $503,540.00. Following the completion of the transaction, the executive vice president directly owned 12,764 shares of the company’s stock, valued at approximately $3,213,592.28. This trade represents a 13.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 36,000 shares of company stock valued at $9,211,620. 0.54% of the stock is owned by insiders.

Assurant Stock Performance

Shares of NYSE:AIZ opened at $274.45 on Thursday. The company’s 50 day moving average price is $250.97 and its two-hundred day moving average price is $236.55. Assurant, Inc. has a 12-month low of $183.39 and a 12-month high of $276.06. The firm has a market cap of $13.60 billion, a PE ratio of 14.04 and a beta of 0.55. 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 (NYSE:AIZ) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.66. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.29 billion. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $5.79 earnings per share. Equities research analysts predict that Assurant, Inc. will post 21.04 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 8th were issued a $0.88 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $3.52 annualized dividend and a yield of 1.3%. Assurant’s payout ratio is currently 18.01%.

Analyst Ratings Changes

Several research analysts have weighed in on AIZ shares. Royal Bank Of Canada set a $310.00 price target on shares of Assurant in a report on Wednesday, June 17th. Piper Sandler reaffirmed an “overweight” rating on shares of Assurant in a research report on Monday, June 22nd. UBS Group increased their target price on Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods lifted their price target on Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Morgan Stanley upgraded Assurant from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $240.00 to $285.00 in a research note on Thursday, May 14th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.57.

Assurant 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.