Atria Wealth Solutions Inc. Buys New Shares in Assurant, Inc. (NYSE:AIZ)

Atria Wealth Solutions Inc. purchased a new stake in shares of Assurant, Inc. (NYSE:AIZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,541 shares of the financial services provider’s stock, valued at approximately $329,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of AIZ. Truist Financial Corp grew its stake in shares of Assurant by 234.9% during the 4th quarter. Truist Financial Corp now owns 11,995 shares of the financial services provider’s stock valued at $2,558,000 after acquiring an additional 8,413 shares during the period. CIBC Asset Management Inc boosted its position in shares of Assurant by 1.1% in the fourth quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider’s stock worth $1,642,000 after purchasing an additional 84 shares during the period. WBH Advisory Inc. purchased a new stake in shares of Assurant in the fourth quarter worth $213,000. Principal Securities Inc. raised its position in shares of Assurant by 10.2% during the 4th quarter. Principal Securities Inc. now owns 5,719 shares of the financial services provider’s stock valued at $1,219,000 after purchasing an additional 528 shares during the period. Finally, Savant Capital LLC lifted its stake in shares of Assurant by 5.5% during the 4th quarter. Savant Capital LLC now owns 3,493 shares of the financial services provider’s stock valued at $745,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

NYSE:AIZ opened at $207.78 on Friday. The company has a market capitalization of $10.55 billion, a P/E ratio of 14.36 and a beta of 0.62. The business’s 50-day moving average is $209.59 and its 200 day moving average is $204.84. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, equities research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be paid a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.54%. Assurant’s payout ratio is currently 22.11%.

Insider Transactions at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

AIZ has been the subject of a number of analyst reports. Morgan Stanley assumed coverage on Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target for the company. Keefe, Bruyette & Woods upgraded Assurant from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Truist Financial upped their price target on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Assurant has an average rating of “Moderate Buy” and a consensus price target of $234.17.

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.