Sanctuary Advisors LLC Makes New $523,000 Investment in Assurant, Inc. $AIZ

Sanctuary Advisors LLC bought a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,946 shares of the financial services provider’s stock, valued at approximately $523,000.

A number of other hedge funds have also recently made changes to their positions in the company. Montag A & Associates Inc. purchased a new stake in shares of Assurant in the 4th quarter valued at about $28,000. Arlington Trust Co LLC lifted its position in shares of Assurant by 81.4% in the 2nd 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. CYBER HORNET ETFs LLC purchased a new position in Assurant during the 2nd quarter valued at about $27,000. Western Wealth Management LLC purchased a new position in shares of Assurant in the 1st quarter worth about $33,000. Finally, BOKF NA purchased a new stake in Assurant during the 3rd quarter valued at $32,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Assurant

In related news, EVP Nair Biju sold 3,931 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were 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. The trade was a 13.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Robert Lonergan sold 7,000 shares of the stock in a transaction on 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 sale, the executive vice president owned 27,374 shares of the company’s stock, valued at approximately $7,191,423.54. This represents a 20.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.54% of the company’s stock.

Assurant Stock Up 0.1%

Shares of NYSE:AIZ opened at $285.69 on Friday. Assurant, Inc. has a 52-week low of $205.01 and a 52-week high of $303.94. The business’s 50 day moving average is $278.92 and its 200 day moving average is $249.28. The stock has a market cap of $14.09 billion, a P/E ratio of 13.64 and a beta of 0.55. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.17 by $1.24. The company had revenue of $3.45 billion for 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 quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.56 EPS. Sell-side analysts predict that Assurant, Inc. will post 22.05 EPS for the current year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Monday, August 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 31st. Assurant’s payout ratio is 16.81%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of Assurant from $274.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial upped their price objective on Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Piper Sandler lifted their price target on shares of Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Keefe, Bruyette & Woods upped their price objective on Assurant from $310.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Finally, Royal Bank Of Canada set a $310.00 price target on shares of Assurant in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $327.14.

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.