Park Avenue Securities LLC Acquires 781 Shares of Assurant, Inc. (NYSE:AIZ)

Park Avenue Securities LLC increased its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,081 shares of the financial services provider’s stock after buying an additional 781 shares during the quarter. Park Avenue Securities LLC’s holdings in Assurant were worth $1,010,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Assurant in the second quarter worth about $31,000. Richardson Financial Services Inc. boosted its position 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 buying an additional 77 shares in the last quarter. Quarry LP bought a new stake in shares of Assurant during the fourth quarter worth $51,000. Family Firm Inc. acquired a new position in shares of Assurant during the second quarter worth $51,000. Finally, Covestor Ltd lifted its stake in shares of Assurant by 35.7% in the 1st quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 91 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AIZ shares. Bank of America lowered their target price on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. UBS Group boosted their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Piper Sandler increased their price objective on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.40.

Assurant Stock Up 1.6 %

Shares of NYSE AIZ opened at $189.58 on Wednesday. The company’s 50 day moving average price is $189.51 and its 200-day moving average price is $178.71. 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, Inc. has a 52-week low of $144.61 and a 52-week high of $201.55. The company has a market capitalization of $9.86 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57.

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

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a yield of 1.52%. Assurant’s dividend payout ratio is currently 20.10%.

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.