Accurate Wealth Management LLC Invests $2.73 Million in Assurant, Inc. (NYSE:AIZ)

Accurate Wealth Management LLC acquired a new stake in Assurant, Inc. (NYSE:AIZ) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 13,714 shares of the financial services provider’s stock, valued at approximately $2,728,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIZ. FMR LLC lifted its stake in shares of Assurant by 6.0% in the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after acquiring an additional 65,874 shares during the period. AQR Capital Management LLC raised its holdings in Assurant by 32.5% during the second quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after purchasing an additional 255,471 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Assurant by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock valued at $116,159,000 after purchasing an additional 12,935 shares during the period. Mizuho Securities USA LLC boosted its holdings in Assurant by 11,480.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after purchasing an additional 460,937 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new position in Assurant during the 3rd quarter worth approximately $48,430,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AIZ. Bank of America raised their price target on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. UBS Group increased their price target on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Truist Financial boosted their price objective on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Piper Sandler increased their target price on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $229.50.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the sale, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by insiders.

Assurant Stock Performance

Shares of AIZ opened at $204.79 on Wednesday. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 14.61 and a beta of 0.62. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $215.60 and its two-hundred day moving average is $196.09. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.29 EPS. Analysts forecast that Assurant, Inc. will post 15.38 EPS for the current fiscal year.

Assurant Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were issued a $0.80 dividend. This is a positive change from Assurant’s previous quarterly dividend of $0.72. This represents a $3.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Monday, December 9th. Assurant’s payout ratio is currently 22.82%.

About Assurant

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.