State of Wyoming Cuts Stock Position in Assurant, Inc. $AIZ

State of Wyoming cut its position in Assurant, Inc. (NYSE:AIZ) by 88.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 284 shares of the financial services provider’s stock after selling 2,151 shares during the quarter. State of Wyoming’s holdings in Assurant were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of AIZ. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant in the 2nd quarter valued at about $27,000. Montag A & Associates Inc. bought a new position in shares of Assurant during the 4th quarter worth approximately $28,000. BOKF NA purchased a new stake in Assurant during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. lifted its position in Assurant by 57.8% during the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 67 shares during the last quarter. Finally, Park Square Financial Group LLC boosted its stake in Assurant by 205.5% in the fourth quarter. Park Square Financial Group LLC now owns 168 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 113 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AIZ has been the topic of several analyst reports. Royal Bank Of Canada set a $310.00 price target on shares of Assurant in a report on Wednesday, June 17th. Keefe, Bruyette & Woods raised their price objective on Assurant from $270.00 to $310.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. UBS Group raised their price objective on Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Truist Financial boosted their target price on Assurant from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $291.43.

Insider Buying and Selling

In other Assurant news, CAO Dimitry Dirienzo sold 2,000 shares of Assurant stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total transaction of $511,360.00. Following the completion of the transaction, the chief accounting officer owned 2,741 shares in the company, valued at approximately $700,818.88. This trade represents a 42.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Keith Meier sold 25,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the completion of the transaction, the executive vice president directly owned 18,552 shares of the company’s stock, valued at approximately $4,717,959.12. This trade represents a 57.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 36,000 shares of company stock worth $9,211,620. Corporate insiders own 0.54% of the company’s stock.

Assurant Stock Up 1.3%

AIZ stock opened at $282.81 on Tuesday. The company has a market capitalization of $14.01 billion, a P/E ratio of 14.47 and a beta of 0.55. Assurant, Inc. has a 12 month low of $186.98 and a 12 month high of $284.64. The firm’s fifty day simple moving average is $267.43 and its 200-day simple moving average is $243.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $0.66. The firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $5.79 earnings per share. As a group, equities research analysts forecast that Assurant, Inc. will post 21.04 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 8th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, June 8th. Assurant’s dividend payout ratio (DPR) is currently 18.01%.

Assurant Profile

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.