SC&H Financial Advisors Inc. Takes Position in Assurant, Inc. (NYSE:AIZ)

SC&H Financial Advisors Inc. purchased a new position in Assurant, Inc. (NYSE:AIZ) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,110 shares of the financial services provider’s stock, valued at approximately $221,000.

Other institutional investors have also bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Assurant during the 2nd quarter valued at $31,000. Richardson Financial Services Inc. boosted its position in Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 77 shares during the period. Family Firm Inc. bought a new position in Assurant during the second quarter worth about $51,000. Blue Trust Inc. increased its stake in shares of Assurant by 40.1% in the second quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 101 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Assurant by 35.7% in the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AIZ. UBS Group raised their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Piper Sandler increased their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Bank of America lifted their target price on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods increased their price objective on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $214.60.

Assurant Stock Performance

Assurant stock opened at $193.60 on Tuesday. Assurant, Inc. has a 1-year low of $146.39 and a 1-year high of $201.55. The firm has a market cap of $10.06 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.61 and a beta of 0.57. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average of $194.31 and a 200-day moving average of $179.89.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period last year, the company earned $3.89 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts expect that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were issued a $0.72 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a yield of 1.49%. Assurant’s dividend payout ratio (DPR) is presently 20.10%.

Insider Activity

In related news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the transaction, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

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.