First Trust Advisors LP Raises Position in Assurant, Inc. $AIZ

First Trust Advisors LP lifted its position in Assurant, Inc. (NYSE:AIZ) by 9.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 632,896 shares of the financial services provider’s stock after acquiring an additional 53,470 shares during the period. First Trust Advisors LP’s holdings in Assurant were worth $137,851,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AIZ. Jones Financial Companies Lllp increased its position in shares of Assurant by 606.7% during the first quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 910 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Assurant by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock valued at $60,987,000 after acquiring an additional 47,548 shares in the last quarter. United Services Automobile Association bought a new position in Assurant in the 1st quarter valued at approximately $203,000. Focus Partners Wealth boosted its stake in Assurant by 66.6% during the 1st quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock valued at $556,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in 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 purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Up 0.2%

Shares of Assurant stock opened at $273.64 on Friday. Assurant, Inc. has a twelve month low of $183.39 and a twelve month high of $284.12. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $263.98 and its 200 day moving average is $240.89. The company has a market cap of $13.56 billion, a price-to-earnings ratio of 14.00 and a beta of 0.55.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 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 the consensus estimate of $3.29 billion. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.79 EPS. Research analysts anticipate that Assurant, Inc. will post 21.04 EPS for the current year.

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 8th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, June 8th. Assurant’s dividend payout ratio (DPR) is 18.01%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wall Street Zen raised Assurant from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. UBS Group upped their price target on Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a report on Monday, May 11th. Royal Bank Of Canada set a $310.00 price objective on Assurant in a research report on Wednesday, June 17th. Piper Sandler reiterated an “overweight” rating on shares of Assurant in a report on Monday, June 22nd. Finally, Weiss Ratings lowered Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $291.43.

Insider Transactions at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total value of $511,360.00. Following the transaction, the chief accounting officer directly owned 2,741 shares of the company’s stock, valued at approximately $700,818.88. This trade represents a 42.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jay Rosenblum sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $251.77, for a total value of $503,540.00. Following the completion of the transaction, the executive vice president directly owned 12,764 shares in the company, valued at $3,213,592.28. The trade was a 13.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 36,000 shares of company stock worth $9,211,620. 0.54% of the stock is currently owned by insiders.

Assurant Company 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.