Team Hewins LLC Buys Shares of 1,309 Assurant, Inc. (NYSE:AIZ)

Team Hewins LLC bought a new stake in Assurant, Inc. (NYSE:AIZFree Report) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 1,309 shares of the financial services provider’s stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIZ. Raymond James Financial Services Advisors Inc. boosted its stake in Assurant by 69.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 3,561 shares of the financial services provider’s stock valued at $511,000 after acquiring an additional 1,459 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Assurant by 12.2% in the third quarter. Teacher Retirement System of Texas now owns 4,491 shares of the financial services provider’s stock valued at $645,000 after purchasing an additional 490 shares during the period. Ieq Capital LLC raised its position in shares of Assurant by 16.4% in the third quarter. Ieq Capital LLC now owns 1,982 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 279 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Assurant by 156.6% in the third quarter. Assenagon Asset Management S.A. now owns 47,388 shares of the financial services provider’s stock valued at $6,804,000 after purchasing an additional 28,922 shares during the period. Finally, Versor Investments LP bought a new stake in shares of Assurant in the third quarter valued at approximately $1,244,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Assurant news, EVP Michael P. Campbell sold 1,304 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $173.35, for a total value of $226,048.40. Following the completion of the transaction, the executive vice president now owns 24,586 shares of the company’s stock, valued at approximately $4,261,983.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Assurant news, EVP Michael P. Campbell sold 1,304 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $173.35, for a total value of $226,048.40. Following the completion of the transaction, the executive vice president now owns 24,586 shares of the company’s stock, valued at approximately $4,261,983.10. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Francesca Luthi sold 6,700 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the completion of the transaction, the chief operating officer now directly owns 10,748 shares of the company’s stock, valued at approximately $1,895,517.28. The disclosure for this sale can be found here. Insiders sold a total of 12,788 shares of company stock valued at $2,248,489 in the last quarter. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research report on Wednesday, May 15th. UBS Group boosted their price target on shares of Assurant from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Piper Sandler boosted their price target on shares of Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $200.25.

Read Our Latest Research Report on Assurant

Assurant Price Performance

Assurant stock traded up $2.28 during midday trading on Friday, reaching $168.99. 353,821 shares of the stock were exchanged, compared to its average volume of 347,882. The company’s fifty day moving average is $177.15 and its 200-day moving average is $172.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $8.79 billion, a PE ratio of 11.79, a PEG ratio of 1.68 and a beta of 0.53. Assurant, Inc. has a 52 week low of $118.45 and a 52 week high of $189.48.

Assurant (NYSE:AIZGet Free Report) last posted its earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.91. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Assurant had a net margin of 6.73% and a return on equity of 20.08%. On average, sell-side analysts forecast that Assurant, Inc. will post 16.21 EPS for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be paid a $0.72 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.88 dividend on an annualized basis and a yield of 1.70%. Assurant’s dividend payout ratio is presently 20.10%.

About Assurant

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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