MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 538 Shares of Assurant, Inc. (NYSE:AIZ)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its position in Assurant, Inc. (NYSE:AIZ) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,112 shares of the financial services provider’s stock after selling 538 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Assurant were worth $2,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. BKM Wealth Management LLC bought a new position in shares of Assurant during the fourth quarter worth $25,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Assurant during the fourth quarter worth $40,000. Assetmark Inc. bought a new position in shares of Assurant during the fourth quarter worth $44,000. Global Retirement Partners LLC boosted its position in shares of Assurant by 839.4% during the fourth quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 277 shares during the last quarter. Finally, Quarry LP purchased a new stake in Assurant during the fourth quarter valued at $51,000. 92.65% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Robert Lonergan sold 2,700 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $176.12, for a total value of $475,524.00. Following the sale, the insider now directly owns 19,786 shares in the company, valued at approximately $3,484,710.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Robert Lonergan sold 2,700 shares of Assurant stock in a transaction that occurred on Thursday, May 16th. The shares were 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 in the company, valued at approximately $3,484,710.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Francesca Luthi sold 6,700 shares of Assurant stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the completion of the sale, the chief operating officer now owns 10,748 shares of the company’s stock, valued at $1,895,517.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,788 shares of company stock worth $2,248,489. Corporate insiders own 0.53% of the company’s stock.

Assurant Trading Down 0.6 %

AIZ stock opened at $165.90 on Wednesday. The company has a market capitalization of $8.63 billion, a PE ratio of 11.58, a P/E/G ratio of 1.66 and a beta of 0.54. Assurant, Inc. has a 12 month low of $122.42 and a 12 month high of $189.48. The firm’s 50-day moving average is $171.74 and its 200 day moving average is $173.12. 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 (NYSE:AIZ) last issued its earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.91. Assurant had a net margin of 6.73% and a return on equity of 20.08%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.82 billion. On average, research analysts anticipate that Assurant, Inc. will post 16.2 EPS for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Monday, June 10th. Assurant’s payout ratio is 20.10%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research note on Wednesday, May 15th. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price on shares of Assurant in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $200.25.

Assurant 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.