Impact Partnership Wealth LLC Takes $241,000 Position in Assurant, Inc. (NYSE:AIZ)

Impact Partnership Wealth LLC acquired a new stake in Assurant, Inc. (NYSE:AIZ) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,131 shares of the financial services provider’s stock, valued at approximately $241,000.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Assurant by 1.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 29,531 shares of the financial services provider’s stock valued at $6,297,000 after acquiring an additional 305 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Assurant during the 4th quarter worth $559,000. Merit Financial Group LLC acquired a new position in Assurant during the 4th quarter worth about $254,000. Hennessy Advisors Inc. grew its position in shares of Assurant by 6.9% in the 4th quarter. Hennessy Advisors Inc. now owns 54,000 shares of the financial services provider’s stock valued at $11,514,000 after buying an additional 3,500 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Assurant by 60.0% in the fourth quarter. Ritholtz Wealth Management now owns 4,049 shares of the financial services provider’s stock valued at $863,000 after buying an additional 1,518 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Assurant

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

Assurant Price Performance

Shares of NYSE AIZ opened at $211.09 on Friday. The firm has a market capitalization of $10.83 billion, a P/E ratio of 15.06 and a beta of 0.62. The firm’s 50-day moving average price is $215.33 and its 200-day moving average price is $198.19. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

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

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s payout ratio is currently 22.82%.

Analysts Set New Price Targets

AIZ has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their target price on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Piper Sandler increased their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America increased their price target on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Truist Financial boosted their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $229.50.

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.