International Assets Investment Management LLC Makes New Investment in Assurant, Inc. (NYSE:AIZ)

International Assets Investment Management LLC bought a new stake in Assurant, Inc. (NYSE:AIZ - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 143,179 shares of the financial services provider's stock, valued at approximately $284,730,000. International Assets Investment Management LLC owned 0.28% of Assurant as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC lifted its position in Assurant by 31.1% in the first quarter. Park Avenue Securities LLC now owns 4,865 shares of the financial services provider's stock worth $916,000 after purchasing an additional 1,154 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Assurant by 1.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider's stock worth $1,200,000 after acquiring an additional 73 shares during the period. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Assurant during the 1st quarter valued at about $343,000. Allspring Global Investments Holdings LLC increased its stake in Assurant by 121.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,203 shares of the financial services provider's stock valued at $1,544,000 after acquiring an additional 4,507 shares during the period. Finally, WFA Asset Management Corp acquired a new position in Assurant in the first quarter worth about $424,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

AIZ has been the topic of several analyst reports. UBS Group upped their price objective on Assurant from $217.00 to $224.00 and gave the company a "buy" rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods increased their price objective on Assurant from $186.00 to $194.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 14th. 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 report on Thursday, October 10th. Piper Sandler lifted their price target on shares of Assurant from $200.00 to $217.00 and gave the company a "neutral" rating in a report on Wednesday, October 2nd. Finally, StockNews.com cut shares of Assurant from a "buy" rating to a "hold" rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Assurant currently has an average rating of "Moderate Buy" and a consensus target price of $214.60.

Assurant Price Performance

NYSE:AIZ traded down $2.96 during mid-day trading on Friday, reaching $191.77. 206,304 shares of the company were exchanged, compared to its average volume of 345,911. Assurant, Inc. has a 12 month low of $145.48 and a 12 month high of $201.55. The stock has a market cap of $9.97 billion, a PE ratio of 13.38, a PEG ratio of 1.61 and a beta of 0.57. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. The company has a fifty day moving average of $194.20 and a 200 day moving average of $179.73.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates of $3.58 by $0.50. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.89 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. Assurant's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.89 earnings per share. On average, research analysts anticipate that Assurant, Inc. will post 16.54 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.50%. Assurant's payout ratio is presently 20.10%.

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.