Intech Investment Management LLC Grows Holdings in Assurant, Inc. (NYSE:AIZ)

Intech Investment Management LLC grew its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,958 shares of the financial services provider’s stock after buying an additional 9,247 shares during the quarter. Intech Investment Management LLC owned 0.15% of Assurant worth $12,628,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MQS Management LLC purchased a new position in shares of Assurant during the 2nd quarter valued at approximately $331,000. XTX Topco Ltd bought a new position in Assurant during the second quarter worth $879,000. Richardson Financial Services Inc. lifted its stake in Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 77 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Assurant by 9.3% during the second quarter. Hsbc Holdings PLC now owns 133,984 shares of the financial services provider’s stock worth $22,364,000 after purchasing an additional 11,427 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Assurant by 3.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,699 shares of the financial services provider’s stock worth $1,779,000 after purchasing an additional 314 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Stock Performance

Shares of NYSE AIZ opened at $194.27 on Friday. 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 business’s 50 day moving average is $183.77 and its two-hundred day moving average is $177.39. The company has a market cap of $10.10 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.60 and a beta of 0.57. Assurant, Inc. has a 12 month low of $141.30 and a 12 month high of $199.50.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. Assurant’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.89 earnings per share. On average, equities analysts expect that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is 20.10%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AIZ shares. Piper Sandler cut Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a research note on Thursday, August 22nd. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. UBS Group increased their target price on Assurant from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Keefe, Bruyette & Woods raised their price target on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Finally, Bank of America lowered their price target on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Assurant has an average rating of “Moderate Buy” and a consensus price target of $207.60.

Insider Buying and Selling at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

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.