MBB Public Markets I LLC Buys Shares of 3,900 Assurant, Inc. (NYSE:AIZ)

MBB Public Markets I LLC bought a new position in shares of Assurant, Inc. (NYSE:AIZ) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,900 shares of the financial services provider’s stock, valued at approximately $648,000.

Several other institutional investors and hedge funds also recently modified their holdings of AIZ. Innealta Capital LLC acquired a new position in shares of Assurant during the 2nd quarter worth approximately $31,000. Richardson Financial Services Inc. raised its holdings in shares of Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 77 shares during the last quarter. Quarry LP purchased a new stake in shares of Assurant in the fourth quarter valued at $51,000. Family Firm Inc. purchased a new stake in shares of Assurant in the second quarter valued at $51,000. Finally, Covestor Ltd boosted its stake in shares of Assurant by 35.7% during the first 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. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Transactions at Assurant

In related news, EVP Martin Jenns sold 1,500 shares of Assurant 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 transaction, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction 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 approximately $593,962.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Martin Jenns sold 1,500 shares of the firm’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 sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at $717,329.51. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Assurant Price Performance

Assurant stock opened at $199.21 on Wednesday. Assurant, Inc. has a 1 year low of $141.83 and a 1 year high of $201.55. The firm has a 50 day moving average price of $187.07 and a 200 day moving average price of $178.15. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 13.90, 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 announced 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 net margin of 6.90% and a return on equity of 19.63%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the company earned $3.89 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Assurant, Inc. will post 16.54 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 1.45%. Assurant’s dividend payout ratio is currently 20.10%.

Wall Street Analyst Weigh In

AIZ has been the topic of a number of recent research reports. UBS Group upped their target price on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Bank of America reduced their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Piper Sandler cut shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 target price for the company. in a research note on Thursday, August 22nd. Keefe, Bruyette & Woods increased their price target on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. Finally, StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.00.

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.