Allianz Asset Management GmbH Sells 10,727 Shares of Assurant, Inc. $AIZ

Allianz Asset Management GmbH lessened its position in Assurant, Inc. (NYSE:AIZ) by 18.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,987 shares of the financial services provider’s stock after selling 10,727 shares during the quarter. Allianz Asset Management GmbH owned 0.09% of Assurant worth $9,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in Assurant during the first quarter worth about $26,000. Alpine Bank Wealth Management bought a new stake in Assurant during the first quarter worth about $28,000. REAP Financial Group LLC lifted its stake in Assurant by 193.9% during the second quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 95 shares during the last quarter. Private Trust Co. NA lifted its stake in Assurant by 192.2% during the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Assurant by 312.8% during the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AIZ. Zacks Research lowered Assurant from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Stephens began coverage on Assurant in a research note on Tuesday, August 12th. They set an “overweight” rating for the company. Wall Street Zen raised Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Morgan Stanley boosted their target price on Assurant from $230.00 to $232.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Benchmark started coverage on Assurant in a research note on Tuesday, August 12th. They issued a “buy” rating for the company. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.00.

Assurant Trading Up 0.8%

NYSE AIZ opened at $210.88 on Wednesday. Assurant, Inc. has a 1-year low of $174.97 and a 1-year high of $230.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average of $214.01 and a 200-day moving average of $201.09. The firm has a market cap of $10.64 billion, a PE ratio of 15.27 and a beta of 0.55.

Assurant (NYSE:AIZ) last released its earnings results on Thursday, March 24th. The financial services provider reported $1.80 earnings per share for the quarter. The company had revenue of $2.42 billion during the quarter. Assurant had a return on equity of 16.47% and a net margin of 5.83%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. As a group, sell-side analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. Assurant’s dividend payout ratio is presently 23.17%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of the transaction, the executive vice president owned 7,875 shares of the company’s stock, valued at $1,642,173.75. This represents a 33.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Dimitry Dirienzo sold 950 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $204.96, for a total value of $194,712.00. Following the transaction, the chief accounting officer directly owned 3,135 shares of the company’s stock, valued at $642,549.60. The trade was a 23.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,125 shares of company stock valued at $5,917,925 in the last 90 days. Insiders own 0.51% of the company’s stock.

About Assurant

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.