Sanctuary Advisors LLC Acquires Shares of 1,946 Assurant, Inc. $AIZ

Sanctuary Advisors LLC acquired a new position in Assurant, Inc. (NYSE:AIZ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,946 shares of the financial services provider’s stock, valued at approximately $523,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Montag A & Associates Inc. acquired a new position in shares of Assurant during the 4th quarter worth approximately $28,000. Arlington Trust Co LLC lifted its position in Assurant by 81.4% in the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock valued at $34,000 after buying an additional 57 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in Assurant during the second quarter worth $27,000. Western Wealth Management LLC purchased a new position in Assurant during the 1st quarter valued at about $33,000. Finally, BOKF NA acquired a new position in shares of Assurant in the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Performance

Shares of AIZ opened at $285.69 on Friday. 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 firm has a market cap of $14.09 billion, a price-to-earnings ratio of 13.64 and a beta of 0.55. 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 two-hundred day moving average is $249.28.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, topping analysts’ consensus estimates of $5.17 by $1.24. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter last year, the business posted $5.56 EPS. Assurant’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts forecast that Assurant, Inc. will post 22.05 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently declared 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. The ex-dividend date is Monday, August 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. Assurant’s dividend payout ratio (DPR) is presently 16.81%.

Wall Street Analyst Weigh In

Several research analysts have commented on AIZ shares. Truist Financial boosted their price target on shares of Assurant from $310.00 to $355.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. BMO Capital Markets upped their price objective on Assurant from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler upped their price target on shares of Assurant from $290.00 to $329.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. UBS Group lifted their price objective on Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $327.14.

Insider Transactions at Assurant

In other news, EVP Robert Lonergan sold 7,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $262.71, for a total transaction of $1,838,970.00. Following the completion of the transaction, the executive vice president owned 27,374 shares in the company, valued at approximately $7,191,423.54. This trade represents a 20.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nair Biju sold 3,931 shares of Assurant stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $302.46, for a total value 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.54% of the stock is owned by insiders.

About Assurant

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.