Squarepoint Ops LLC Increases Stock Position in Assurant, Inc. $AIZ

Squarepoint Ops LLC boosted its position in Assurant, Inc. (NYSE:AIZ) by 956.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,065 shares of the financial services provider’s stock after acquiring an additional 12,734 shares during the period. Squarepoint Ops LLC’s holdings in Assurant were worth $3,777,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AIZ. Jones Financial Companies Lllp boosted its holdings in shares of Assurant by 606.7% during the first quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 910 shares during the period. Goldman Sachs Group Inc. increased its holdings in Assurant by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock valued at $60,987,000 after purchasing an additional 47,548 shares during the period. United Services Automobile Association purchased a new position in Assurant during the 1st quarter valued at about $203,000. Focus Partners Wealth raised its position in Assurant by 66.6% during the 1st quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock valued at $556,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Assurant by 57.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AIZ. Royal Bank Of Canada set a $310.00 price objective on Assurant in a research report on Wednesday, June 17th. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Morgan Stanley upped their target price on Assurant from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Piper Sandler raised their price target on Assurant from $290.00 to $329.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Truist Financial lifted their price target on shares of Assurant from $310.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $327.14.

Assurant Price Performance

AIZ stock opened at $282.58 on Friday. Assurant, Inc. has a 1 year low of $205.01 and a 1 year high of $303.94. The company has a market cap of $13.94 billion, a P/E ratio of 13.49 and a beta of 0.54. The firm has a 50-day moving average of $281.77 and a 200 day moving average of $253.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.38 and a quick ratio of 0.38.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $5.17 by $1.24. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.43 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. Assurant’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $5.56 earnings per share. On average, sell-side analysts forecast that Assurant, Inc. will post 22.07 EPS for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, August 31st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st. Assurant’s dividend payout ratio (DPR) is presently 16.81%.

Insider Buying and Selling

In related news, EVP Robert Lonergan sold 7,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $262.71, for a total value of $1,838,970.00. Following the sale, the executive vice president directly owned 27,374 shares of the company’s stock, valued at $7,191,423.54. This represents a 20.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Biju Nair sold 3,931 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $302.46, for a total value of $1,188,970.26. Following the completion of the transaction, the executive vice president owned 24,247 shares of the company’s stock, valued at approximately $7,333,747.62. This trade represents a 13.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.54% of the company’s stock.

Assurant Company Profile

Assurant, Inc is a global business services and insurance company that provides protection products and services supporting major purchases and everyday needs. Its offerings are designed to help consumers, businesses and distribution partners manage risks associated with connected devices, housing and transportation.

The company’s Lifestyle segment provides mobile device protection, extended service contracts, vehicle service contracts and related services. Its Global Housing segment offers renters insurance, homeowners insurance, lender-placed insurance and other specialty property products.