The Manufacturers Life Insurance Company Purchases 210 Shares of Assurant, Inc. (NYSE:AIZ)

The Manufacturers Life Insurance Company raised its stake in Assurant, Inc. (NYSE:AIZ) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,568 shares of the financial services provider’s stock after acquiring an additional 210 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Assurant worth $6,744,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Assurant during the second quarter worth $31,000. Richardson Financial Services Inc. grew its holdings in Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 77 shares during the period. Quarry LP acquired a new position in Assurant during the fourth quarter worth $51,000. Family Firm Inc. purchased a new position in shares of Assurant in the second quarter valued at approximately $51,000. Finally, Covestor Ltd raised its position in shares of Assurant by 35.7% in the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock valued at $65,000 after buying an additional 91 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIZ has been the subject of several recent analyst reports. Piper Sandler raised their target price on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Bank of America reduced their price target on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. UBS Group increased their price target on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Assurant currently has an average rating of “Moderate Buy” and a consensus price target of $212.40.

Insider Buying and Selling

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related 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 value of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $593,962.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Assurant Trading Up 0.5 %

NYSE:AIZ opened at $197.53 on Friday. The business has a fifty day moving average of $189.23 and a 200-day moving average of $178.68. Assurant, Inc. has a 1 year low of $144.54 and a 1 year high of $201.55. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.68 and a beta of 0.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company earned $3.89 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Assurant, Inc. will post 16.54 earnings per share for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a dividend yield of 1.46%. Assurant’s payout ratio is 20.10%.

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.