Inceptionr LLC Purchases New Stake in Assurant, Inc. $AIZ

Inceptionr LLC acquired a new position in shares of Assurant, Inc. (NYSE:AIZ) in the 1st quarter, Holdings Channel.com reports. The firm acquired 3,216 shares of the financial services provider’s stock, valued at approximately $700,000.

Other large investors have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new position in Assurant in the 2nd quarter valued at about $27,000. Montag A & Associates Inc. acquired a new position in shares of Assurant in the 4th quarter valued at approximately $28,000. BOKF NA bought a new stake in shares of Assurant during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. lifted its holdings 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 worth $38,000 after acquiring an additional 67 shares during the period. Finally, Park Square Financial Group LLC boosted 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 worth $40,000 after acquiring an additional 113 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Assurant

In other news, EVP Robert Lonergan sold 7,000 shares of the 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 completion of the transaction, the executive vice president directly owned 27,374 shares in the company, valued at approximately $7,191,423.54. This represents a 20.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the executive vice president directly owned 18,552 shares in the company, valued at approximately $4,717,959.12. This trade represents a 57.40% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 36,000 shares of company stock worth $9,211,620. Corporate insiders own 0.54% of the company’s stock.

Assurant Trading Up 1.0%

AIZ opened at $276.61 on Friday. The company has a market cap of $13.71 billion, a P/E ratio of 14.15 and a beta of 0.55. 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’s 50 day moving average is $264.43 and its 200-day moving average is $241.14. Assurant, Inc. has a 1-year low of $183.39 and a 1-year high of $284.12.

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

Assurant Dividend Announcement

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

Analyst Upgrades and Downgrades

AIZ has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. UBS Group upped their target price on Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Truist Financial raised their target price on Assurant from $290.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods lifted their price target on Assurant from $270.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.43.

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.