Amalgamated Bank Sells 584 Shares of Assurant, Inc. (NYSE:AIZ)

Amalgamated Bank lowered its position in shares of Assurant, Inc. (NYSE:AIZ) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,890 shares of the financial services provider’s stock after selling 584 shares during the period. Amalgamated Bank’s holdings in Assurant were worth $2,808,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Assurant during the 2nd quarter worth $31,000. Assetmark Inc. acquired a new stake in Assurant in the 4th quarter worth about $44,000. Quarry LP bought a new position in shares of Assurant during the fourth quarter worth approximately $51,000. Family Firm Inc. acquired a new stake in shares of Assurant in the second quarter valued at approximately $51,000. Finally, Blue Trust Inc. boosted its stake in shares of Assurant by 40.1% in the second quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock valued at $59,000 after buying an additional 101 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIZ has been the subject of a number of recent analyst reports. UBS Group upped their target price on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods raised their target price 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. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. Piper Sandler cut shares of 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. Finally, Bank of America cut their target price on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $209.00.

Insider Buying and Selling

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the company’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 sale, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Assurant Price Performance

Shares of NYSE:AIZ opened at $198.01 on Tuesday. The firm has a 50 day simple moving average of $184.31 and a 200 day simple moving average of $177.50. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.60 and a beta of 0.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. Assurant, Inc. has a one year low of $141.83 and a one year 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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm posted $3.89 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. Research analysts predict that Assurant, Inc. will post 16.54 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.72 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.45%. Assurant’s payout ratio is 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.