Dimensional Fund Advisors LP decreased its holdings in shares of Assurant, Inc. (NYSE:AIZ – Free Report) by 0.2% during the first quarter, Holdings Channel.com reports. The firm owned 920,734 shares of the financial services provider’s stock after selling 1,490 shares during the period. Dimensional Fund Advisors LP’s holdings in Assurant were worth $110,550,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in AIZ. American Century Companies Inc. raised its stake in shares of Assurant by 11.5% in the first quarter. American Century Companies Inc. now owns 6,180 shares of the financial services provider’s stock valued at $1,124,000 after acquiring an additional 639 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Assurant in the first quarter valued at $211,000. MetLife Investment Management LLC raised its stake in shares of Assurant by 23.1% in the first quarter. MetLife Investment Management LLC now owns 15,499 shares of the financial services provider’s stock valued at $2,818,000 after acquiring an additional 2,912 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Assurant by 17.5% in the first quarter. Panagora Asset Management Inc. now owns 6,005 shares of the financial services provider’s stock valued at $1,092,000 after acquiring an additional 896 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Assurant by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,624 shares of the financial services provider’s stock valued at $1,386,000 after acquiring an additional 472 shares during the period. Hedge funds and other institutional investors own 93.13% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on AIZ shares. Truist Financial increased their target price on shares of Assurant from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. StockNews.com began coverage on shares of Assurant in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Piper Sandler upgraded shares of Assurant from a “neutral” rating to an “overweight” rating and set a $144.00 price target on the stock in a report on Tuesday, June 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $141.00.
Assurant Stock Down 0.3 %
Shares of Assurant stock opened at $137.59 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.41 and a quick ratio of 0.41. Assurant, Inc. has a 1 year low of $104.49 and a 1 year high of $165.84. The firm’s 50-day moving average is $134.95 and its two-hundred day moving average is $127.17. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 0.80 and a beta of 0.55.
Assurant (NYSE:AIZ – Get Free Report) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.60 by $1.29. Assurant had a net margin of 3.27% and a return on equity of 13.66%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.64 billion. As a group, research analysts expect that Assurant, Inc. will post 12.58 earnings per share for the current fiscal year.
Assurant Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Monday, August 28th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, August 25th. Assurant’s dividend payout ratio is currently 43.55%.
Insider Activity
In other news, EVP Robert Lonergan sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $144.43, for a total value of $433,290.00. Following the sale, the executive vice president now directly owns 17,981 shares in the company, valued at approximately $2,596,995.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Richard S. Dziadzio sold 4,000 shares of the stock in a transaction that occurred on 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 directly owns 55,893 shares of the company’s stock, valued at approximately $7,325,895.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Lonergan sold 3,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $144.43, for a total transaction of $433,290.00. Following the completion of the transaction, the executive vice president now directly owns 17,981 shares of the company’s stock, valued at $2,596,995.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,700 shares of company stock worth $2,059,393. Corporate insiders own 0.39% of the company’s stock.
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 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.
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