iA Global Asset Management Inc. Raises Holdings in Assurant, Inc. $AIZ

iA Global Asset Management Inc. raised its position in Assurant, Inc. (NYSE:AIZ) by 135.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 3,829 shares of the financial services provider’s stock after acquiring an additional 2,204 shares during the quarter. iA Global Asset Management Inc.’s holdings in Assurant were worth $756,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new stake in Assurant in the second quarter valued at approximately $1,205,000. GHP Investment Advisors Inc. boosted its stake in Assurant by 0.9% in the second quarter. GHP Investment Advisors Inc. now owns 18,172 shares of the financial services provider’s stock valued at $3,589,000 after acquiring an additional 162 shares in the last quarter. Strs Ohio boosted its stake in Assurant by 39.3% in the second quarter. Strs Ohio now owns 14,157 shares of the financial services provider’s stock valued at $2,796,000 after acquiring an additional 3,993 shares in the last quarter. Impact Partnership Wealth LLC boosted its stake in Assurant by 59.9% in the second quarter. Impact Partnership Wealth LLC now owns 2,045 shares of the financial services provider’s stock valued at $404,000 after acquiring an additional 766 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in Assurant by 17.7% in the second quarter. Atria Investments Inc now owns 1,493 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 225 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AIZ shares. Piper Sandler raised their target price on shares of Assurant from $238.00 to $248.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Assurant in a research note on Wednesday, October 8th. Benchmark began coverage on shares of Assurant in a research note on Tuesday, August 12th. They set a “buy” rating for the company. Zacks Research downgraded shares of Assurant from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Finally, UBS Group lifted their price objective on shares of Assurant from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Assurant currently has a consensus rating of “Moderate Buy” and an average target price of $243.83.

Assurant Stock Up 0.2%

AIZ opened at $212.22 on Tuesday. Assurant, Inc. has a fifty-two week low of $174.97 and a fifty-two week high of $230.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The company has a fifty day moving average of $213.55 and a two-hundred day moving average of $202.67. The stock has a market capitalization of $10.71 billion, a price-to-earnings ratio of 15.37 and a beta of 0.55.

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

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were issued a $0.80 dividend. 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 payout ratio is presently 23.17%.

Insider Buying and Selling at Assurant

In other Assurant news, CEO Keith Demmings sold 13,725 shares of Assurant stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $220.52, for a total value of $3,026,637.00. Following the completion of the transaction, the chief executive officer owned 84,647 shares of the company’s stock, valued at approximately $18,666,356.44. The trade was a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jay Rosenblum sold 3,900 shares of Assurant stock in a transaction on Tuesday, August 12th. The shares were 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 directly owned 7,875 shares of the company’s stock, valued at $1,642,173.75. The trade was a 33.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 27,125 shares of company stock valued at $5,917,925. Corporate insiders own 0.51% of the company’s stock.

Assurant Company 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.