Impact Partnership Wealth LLC Acquires Shares of 2,520 Assurant, Inc. $AIZ

Impact Partnership Wealth LLC bought a new stake in Assurant, Inc. (NYSE:AIZ) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,520 shares of the financial services provider’s stock, valued at approximately $549,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in shares of Assurant during the 2nd quarter worth $27,000. Montag A & Associates Inc. acquired a new stake in Assurant in the fourth quarter valued at about $28,000. BOKF NA acquired a new stake in Assurant in the third quarter valued at about $32,000. Geneos Wealth Management Inc. grew its position in Assurant by 57.8% in the first 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 last quarter. Finally, Park Square Financial Group LLC grew its position in Assurant by 205.5% in the fourth 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 last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

Assurant stock opened at $274.45 on Thursday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $13.60 billion, a PE ratio of 14.04 and a beta of 0.55. Assurant, Inc. has a 12 month low of $183.39 and a 12 month high of $276.06. The stock has a 50-day moving average price of $250.97 and a two-hundred day moving average price of $236.55.

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

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 8th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, June 8th. Assurant’s dividend payout ratio (DPR) is currently 18.01%.

Insider Buying and Selling

In other Assurant news, EVP Robert Lonergan sold 7,000 shares of Assurant stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $262.71, for a total transaction of $1,838,970.00. Following the transaction, the executive vice president directly owned 27,374 shares of the company’s stock, valued at approximately $7,191,423.54. The trade was a 20.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Keith Meier sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 18,552 shares in the company, valued at $4,717,959.12. This trade represents a 57.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,000 shares of company stock valued at $9,211,620 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AIZ has been the subject of a number of research reports. Morgan Stanley raised shares of Assurant from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $240.00 to $285.00 in a report on Thursday, May 14th. Weiss Ratings lowered shares of Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Piper Sandler reissued an “overweight” rating on shares of Assurant in a research note on Monday, June 22nd. Finally, Truist Financial raised their target price on shares of Assurant from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $283.57.

Assurant Profile

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.