Rockefeller Capital Management L.P. Acquires 101,447 Shares of Assurant, Inc. $AIZ

Rockefeller Capital Management L.P. boosted its holdings in Assurant, Inc. (NYSE:AIZ) by 48,079.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,658 shares of the financial services provider’s stock after purchasing an additional 101,447 shares during the period. Rockefeller Capital Management L.P.’s holdings in Assurant were worth $24,485,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AIZ. CYBER HORNET ETFs LLC purchased a new position in shares of Assurant in the 2nd quarter worth about $27,000. Montag A & Associates Inc. bought a new stake in Assurant in the fourth quarter worth about $28,000. BOKF NA purchased a new position in Assurant in the third quarter valued at about $32,000. Geneos Wealth Management Inc. grew its position in shares of 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 acquiring an additional 67 shares during the period. Finally, Park Square Financial Group LLC grew its position in shares of Assurant by 205.5% during the 4th quarter. Park Square Financial Group LLC now owns 168 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 113 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. UBS Group lifted their price target on shares of Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Royal Bank Of Canada set a $310.00 target price on Assurant in a research report on Wednesday, June 17th. Morgan Stanley upgraded Assurant from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $240.00 to $285.00 in a research note on Thursday, May 14th. Wall Street Zen raised Assurant from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Piper Sandler reiterated an “overweight” rating on shares of Assurant in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Assurant currently has an average rating of “Buy” and an average target price of $283.57.

Insider Buying and Selling

In other Assurant news, EVP Keith Meier sold 25,000 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the completion of the transaction, the executive vice president directly owned 18,552 shares of the company’s stock, valued at $4,717,959.12. This trade represents a 57.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jay Rosenblum sold 2,000 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $251.77, for a total transaction of $503,540.00. Following the transaction, the executive vice president owned 12,764 shares of the company’s stock, valued at $3,213,592.28. This trade represents a 13.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 29,000 shares of company stock valued at $7,372,650. Company insiders own 0.54% of the company’s stock.

Assurant Stock Performance

Shares of AIZ opened at $261.79 on Tuesday. Assurant, Inc. has a 52-week low of $183.39 and a 52-week high of $265.66. The stock’s 50-day simple moving average is $244.95 and its 200 day simple moving average is $234.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 13.39 and a beta of 0.56.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, beating analysts’ consensus estimates of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the firm earned $5.79 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. Research analysts forecast that Assurant, Inc. will post 21.04 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 8th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $3.52 annualized dividend and a yield of 1.3%. Assurant’s payout ratio is currently 18.01%.

About Assurant

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.