Assurant, Inc. (NYSE:AIZ) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its holdings in Assurant, Inc. (NYSE:AIZ) by 21.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,367 shares of the financial services provider’s stock after acquiring an additional 768 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Assurant were worth $726,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Innealta Capital LLC acquired a new stake in shares of Assurant during the second quarter valued at about $31,000. Assetmark Inc. acquired a new stake in Assurant in the 4th quarter valued at approximately $44,000. Quarry LP acquired a new stake in Assurant in the 4th quarter valued at approximately $51,000. Family Firm Inc. purchased a new stake in Assurant in the second quarter valued at approximately $51,000. Finally, Blue Trust Inc. lifted its stake in Assurant by 40.1% during the second quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 101 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Assurant Stock Performance

Shares of Assurant stock opened at $194.27 on Friday. The business has a 50-day simple moving average of $183.77 and a 200-day simple moving average of $177.39. The company has a market cap of $10.10 billion, a PE ratio of 13.56, a P/E/G ratio of 1.60 and a beta of 0.57. Assurant, Inc. has a one year low of $141.30 and a one year high of $199.50. 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 announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.89 EPS. On average, equities research analysts forecast that Assurant, Inc. will post 16.54 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.72 per share. 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%.

Insider Transactions at Assurant

In other news, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $717,329.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction 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. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was 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 approximately $717,329.51. The disclosure for this sale can be found here. 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.