Mather Group LLC. Purchases Shares of 431 Assurant, Inc. (NYSE:AIZ)

Mather Group LLC. acquired a new position in shares of Assurant, Inc. (NYSE:AIZ) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 431 shares of the financial services provider’s stock, valued at approximately $81,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB lifted its stake in shares of Assurant by 8.0% during the 4th quarter. Nordea Investment Management AB now owns 181,885 shares of the financial services provider’s stock worth $30,586,000 after buying an additional 13,395 shares during the last quarter. Naples Money Management LLC acquired a new stake in Assurant during the fourth quarter worth approximately $1,988,000. Truist Financial Corp boosted its holdings in shares of Assurant by 305.5% during the fourth quarter. Truist Financial Corp now owns 8,066 shares of the financial services provider’s stock worth $1,359,000 after acquiring an additional 6,077 shares during the period. Teacher Retirement System of Texas grew its position in shares of Assurant by 1,035.8% in the fourth quarter. Teacher Retirement System of Texas now owns 51,011 shares of the financial services provider’s stock valued at $8,595,000 after purchasing an additional 46,520 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Assurant by 3.0% during the first quarter. Los Angeles Capital Management LLC now owns 249,152 shares of the financial services provider’s stock worth $46,900,000 after purchasing an additional 7,150 shares during the period. 92.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Robert Lonergan sold 2,700 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.12, for a total value of $475,524.00. Following the completion of the sale, the insider now directly owns 19,786 shares of the company’s stock, valued at $3,484,710.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Dimitry Dirienzo sold 2,084 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $175.29, for a total transaction of $365,304.36. Following the completion of the sale, the chief accounting officer now directly owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Lonergan sold 2,700 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $176.12, for a total transaction of $475,524.00. Following the sale, the insider now owns 19,786 shares of the company’s stock, valued at approximately $3,484,710.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,788 shares of company stock worth $2,248,489. Insiders own 0.53% of the company’s stock.

Assurant Price Performance

Assurant stock opened at $168.74 on Friday. The firm has a market cap of $8.77 billion, a P/E ratio of 11.78, a P/E/G ratio of 1.69 and a beta of 0.56. The stock’s 50 day moving average is $172.58 and its 200 day moving average is $173.13. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39. Assurant, Inc. has a one year low of $121.51 and a one year high of $189.48.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.91. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. As a group, research analysts expect that Assurant, Inc. will post 16.2 EPS for the current year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.88 dividend on an annualized basis and a yield of 1.71%. Assurant’s dividend payout ratio (DPR) is presently 20.10%.

Analysts Set New Price Targets

AIZ has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a report on Wednesday, May 15th. Piper Sandler raised their price target on shares of Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.25.

About Assurant

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.