Bessemer Group Inc. Has $2.76 Million Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Bessemer Group Inc. boosted its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 3,412.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 14,645 shares of the financial services provider’s stock after acquiring an additional 14,228 shares during the period. Bessemer Group Inc.’s holdings in Assurant were worth $2,757,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new stake in Assurant during the 4th quarter worth $25,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Assurant during the 4th quarter worth $40,000. Assetmark Inc. acquired a new stake in Assurant during the 4th quarter worth $44,000. Quarry LP bought a new position in shares of Assurant during the fourth quarter worth $51,000. Finally, Global Retirement Partners LLC boosted its position in shares of Assurant by 839.4% during the fourth quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 277 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analyst Ratings Changes

AIZ has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and set a $205.00 price target on shares of Assurant in a research report on Friday, June 28th. Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 15th. Finally, Bank of America reduced their price target on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Assurant presently has a consensus rating of “Moderate Buy” and an average price target of $204.60.

Insider Buying and Selling at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 2,084 shares of Assurant stock in a transaction on Friday, May 17th. The shares were sold at an average price of $175.29, for a total value of $365,304.36. Following the sale, the chief accounting officer now directly owns 3,702 shares in the company, valued at approximately $648,923.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Assurant news, CAO Dimitry Dirienzo sold 2,084 shares of Assurant stock in a transaction on Friday, May 17th. The shares were sold at an average price of $175.29, for a total value of $365,304.36. Following the sale, the chief accounting officer now directly owns 3,702 shares in the company, valued at approximately $648,923.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Lonergan sold 2,700 shares of Assurant stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $176.12, for a total transaction of $475,524.00. Following the completion of the sale, the insider now owns 19,786 shares in the company, valued at $3,484,710.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,788 shares of company stock worth $2,248,489. Insiders own 0.53% of the company’s stock.

Assurant Stock Up 0.9 %

AIZ traded up $1.47 during trading on Thursday, hitting $171.35. The company had a trading volume of 40,784 shares, compared to its average volume of 350,301. The company has a market capitalization of $8.91 billion, a PE ratio of 11.86, a PEG ratio of 1.70 and a beta of 0.54. Assurant, Inc. has a one year low of $129.85 and a one year high of $189.48. The firm’s 50-day moving average price is $168.94 and its 200 day moving average price is $173.10. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 EPS for the quarter, beating the consensus estimate of $3.87 by $0.91. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.82 billion. Assurant had a net margin of 6.73% and a return on equity of 20.08%. As a group, equities analysts expect that Assurant, Inc. will post 16.14 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were paid a $0.72 dividend. The ex-dividend date was Monday, June 10th. This represents a $2.88 annualized dividend and a yield of 1.68%. Assurant’s payout ratio is currently 20.10%.

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.