Tobias Financial Advisors Inc. Decreases Stock Holdings in Assurant, Inc. $AIZ

Tobias Financial Advisors Inc. cut its holdings in Assurant, Inc. (NYSE:AIZ) by 15.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,200 shares of the financial services provider’s stock after selling 223 shares during the quarter. Tobias Financial Advisors Inc.’s holdings in Assurant were worth $237,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. J.W. Cole Advisors Inc. lifted its position in Assurant by 3.8% during the second quarter. J.W. Cole Advisors Inc. now owns 1,335 shares of the financial services provider’s stock valued at $264,000 after purchasing an additional 49 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Assurant by 3.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,527 shares of the financial services provider’s stock valued at $302,000 after buying an additional 58 shares in the last quarter. Hartford Investment Management Co. lifted its holdings in shares of Assurant by 1.3% in the 2nd quarter. Hartford Investment Management Co. now owns 4,556 shares of the financial services provider’s stock valued at $900,000 after acquiring an additional 60 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Assurant by 3.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 2,182 shares of the financial services provider’s stock valued at $431,000 after acquiring an additional 64 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

Shares of AIZ stock opened at $228.16 on Friday. The stock has a 50 day moving average price of $218.32 and a 200 day moving average price of $206.75. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $232.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $11.43 billion, a P/E ratio of 16.52 and a beta of 0.56.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The company had revenue of $2.42 billion for the quarter. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. As a group, sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 1st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.52 annualized dividend and a yield of 1.5%. This is a boost from Assurant’s previous quarterly dividend of $0.80. Assurant’s payout ratio is 21.42%.

Analyst Ratings Changes

AIZ has been the subject of several analyst reports. Zacks Research lowered Assurant from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. Truist Financial set a $255.00 price target on Assurant in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Assurant in a research report on Tuesday. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Finally, Wall Street Zen upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $250.00.

Insiders Place Their Bets

In related news, CEO Keith Demmings sold 13,725 shares of Assurant stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the completion of the sale, the chief executive officer owned 84,647 shares in the company, valued at $18,666,356.44. This trade represents a 13.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.51% of the stock is owned by insiders.

Assurant Company Profile

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.