Valtrion Capital Management LLC Takes $601,000 Position in Assurant, Inc. $AIZ

Valtrion Capital Management LLC bought a new position in Assurant, Inc. (NYSE:AIZ) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,237 shares of the financial services provider’s stock, valued at approximately $601,000.

Other hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. raised its position in shares of Assurant by 1.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 349,361 shares of the financial services provider’s stock valued at $84,144,000 after buying an additional 5,462 shares in the last quarter. Strs Ohio grew its position in Assurant by 972.1% in the fourth quarter. Strs Ohio now owns 12,994 shares of the financial services provider’s stock worth $3,130,000 after acquiring an additional 11,782 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in Assurant by 146.7% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 8,140 shares of the financial services provider’s stock worth $1,961,000 after acquiring an additional 4,840 shares in the last quarter. BlackRock Inc. bought a new stake in Assurant during the second quarter worth approximately $1,345,211,000. Finally, Bank of America Corp DE increased its stake in Assurant by 1.3% during the first quarter. Bank of America Corp DE now owns 361,210 shares of the financial services provider’s stock worth $78,675,000 after acquiring an additional 4,460 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Assurant news, EVP Robert Lonergan sold 7,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $262.71, for a total value of $1,838,970.00. Following the completion of the sale, the executive vice president directly owned 27,374 shares of the company’s stock, valued at $7,191,423.54. The trade was a 20.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nair Biju sold 3,931 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $302.46, for a total transaction of $1,188,970.26. Following the completion of the transaction, the executive vice president owned 24,247 shares in the company, valued at $7,333,747.62. This represents a 13.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings raised Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada set a $310.00 price target on Assurant in a report on Wednesday, June 17th. UBS Group raised their price target on Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Wall Street Zen lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Piper Sandler boosted their price objective on shares of Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $316.57.

Assurant Price Performance

AIZ opened at $284.76 on Wednesday. The business has a fifty day moving average of $277.38 and a 200 day moving average of $248.40. Assurant, Inc. has a 52-week low of $205.01 and a 52-week high of $303.94. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36. The stock has a market cap of $14.04 billion, a P/E ratio of 13.60 and a beta of 0.55.

Assurant (NYSE:AIZ) last released 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 business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $5.56 earnings per share. As a group, sell-side analysts anticipate that Assurant, Inc. will post 22.05 EPS for the current year.

Assurant Announces Dividend

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