Machina Capital S.A.S. Takes Position in Assurant, Inc. (NYSE:AIZ)

Posted by Defense World Staff on Jul 10th, 2023

Machina Capital S.A.S. acquired a new stake in shares of Assurant, Inc. (NYSE:AIZ – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,115 shares of the financial services provider’s stock, valued at approximately $134,000.

Other large investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in Assurant by 353.8% during the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after buying an additional 138 shares during the last quarter. State of Wyoming purchased a new position in Assurant during the fourth quarter valued at $32,000. Covestor Ltd raised its stake in Assurant by 453.2% during the first quarter. Covestor Ltd now owns 260 shares of the financial services provider’s stock valued at $47,000 after buying an additional 213 shares during the last quarter. CoreCap Advisors LLC purchased a new position in Assurant during the fourth quarter valued at $36,000. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of Assurant in the 1st quarter worth $51,000. Hedge funds and other institutional investors own 92.86% of the company’s stock.

Insider Buying and Selling at Assurant

In other Assurant news, CFO Richard S. Dziadzio sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $131.07, for a total transaction of $524,280.00. Following the completion of the sale, the chief financial officer now owns 55,893 shares of the company’s stock, valued at $7,325,895.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Dimitry Dirienzo sold 800 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $124.00, for a total value of $99,200.00. Following the transaction, the chief accounting officer now directly owns 5,516 shares in the company, valued at $683,984. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard S. Dziadzio sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $131.07, for a total value of $524,280.00. Following the completion of the transaction, the chief financial officer now owns 55,893 shares in the company, valued at $7,325,895.51. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AIZ. Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and set a $52.00 target price for the company in a report on Tuesday, March 21st. Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $144.00 target price for the company in a report on Tuesday, June 13th. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a report on Tuesday, May 23rd. Bank of America lifted their target price on Assurant from $160.00 to $164.00 in a report on Wednesday, May 3rd. Finally, TheStreet raised Assurant from a “c+” rating to a “b” rating in a report on Wednesday, May 10th. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $139.00.

Assurant Stock Performance

Shares of AIZ opened at $125.86 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.41 and a quick ratio of 0.41. Assurant, Inc. has a one year low of $104.49 and a one year high of $178.76. The firm has a market capitalization of $6.69 billion, a P/E ratio of 28.09, a PEG ratio of 0.98 and a beta of 0.55. The business has a fifty day moving average of $127.12 and a 200 day moving average of $124.91.

Assurant (NYSE:AIZ – Free Report) last issued its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $2.32 by $1.17. Assurant had a return on equity of 12.54% and a net margin of 2.33%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the company posted $3.75 earnings per share. Assurant’s revenue was up 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Assurant, Inc. will post 11.13 EPS for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.22%. The ex-dividend date was Friday, May 26th. Assurant’s dividend payout ratio is presently 62.50%.

Assurant Company Profile

(Free Report)

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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.