Oppenheimer Asset Management Inc. Buys Shares of 8,861 Assurant, Inc. $AIZ

Oppenheimer Asset Management Inc. purchased a new position in shares of Assurant, Inc. (NYSE:AIZ) during the second quarter, Holdings Channel.com reports. The fund purchased 8,861 shares of the financial services provider’s stock, valued at approximately $2,379,000.

A number of other institutional investors also recently made changes to their positions in AIZ. CYBER HORNET ETFs LLC bought a new position in shares of Assurant in the second quarter valued at approximately $27,000. Montag A & Associates Inc. acquired a new position in shares of Assurant during the fourth quarter valued at approximately $28,000. BOKF NA bought a new stake in Assurant during the third quarter worth approximately $32,000. Western Wealth Management LLC acquired a new stake in Assurant in the first quarter worth approximately $33,000. Finally, Arlington Trust Co LLC lifted its position in Assurant by 81.4% in the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 57 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AIZ shares. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. UBS Group boosted their price objective on Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler upped their price objective on Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Weiss Ratings raised Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Finally, Keefe, Bruyette & Woods lifted their target price on Assurant from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $313.71.

Insider Transactions at Assurant

In related news, EVP Robert Lonergan sold 7,000 shares of Assurant 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 transaction, the executive vice president directly owned 27,374 shares in the company, valued at $7,191,423.54. The trade was a 20.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Dimitry Dirienzo sold 2,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total value of $511,360.00. Following the sale, the chief accounting officer directly owned 2,741 shares in the company, valued at $700,818.88. This trade represents a 42.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,931 shares of company stock valued at $3,539,300 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Assurant Stock Up 0.1%

NYSE AIZ opened at $282.76 on Monday. Assurant, Inc. has a 12 month low of $205.01 and a 12 month high of $303.94. The company has a market capitalization of $13.95 billion, a P/E ratio of 13.50 and a beta of 0.55. The company’s 50 day simple moving average is $273.81 and its 200 day simple moving average is $246.25. 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 earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share for the quarter, topping analysts’ consensus estimates of $5.17 by $1.24. The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.43 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $5.56 earnings per share. Equities research analysts expect that Assurant, Inc. will post 21.61 earnings per share for the current fiscal year.

Assurant Dividend Announcement

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

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.