NorthRock Partners LLC Lowers Stock Holdings in Assurant, Inc. (NYSE:AIZ)

NorthRock Partners LLC lessened its stake in Assurant, Inc. (NYSE:AIZ) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,618 shares of the financial services provider’s stock after selling 84 shares during the period. NorthRock Partners LLC’s holdings in Assurant were worth $681,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in shares of Assurant in the 4th quarter valued at approximately $25,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Assurant during the fourth quarter worth $40,000. Assetmark Inc. purchased a new position in Assurant in the 4th quarter valued at $44,000. Global Retirement Partners LLC increased its stake in Assurant by 839.4% in the 4th quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock valued at $51,000 after buying an additional 277 shares during the period. Finally, Quarry LP purchased a new stake in Assurant in the 4th quarter valued at approximately $51,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Assurant Trading Down 0.1 %

Shares of AIZ traded down $0.21 on Tuesday, hitting $170.90. 10,222 shares of the stock traded hands, compared to its average volume of 351,681. Assurant, Inc. has a 1 year low of $124.22 and a 1 year high of $189.48. The stock’s 50 day moving average is $169.81 and its two-hundred day moving average is $173.04. The firm has a market capitalization of $8.89 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.65 and a beta of 0.54. 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 earnings per share (EPS) for the quarter, topping 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 return on equity of 20.08% and a net margin of 6.73%. As a group, sell-side analysts predict that Assurant, Inc. will post 16.2 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, June 10th. Assurant’s dividend payout ratio is currently 20.10%.

Insider Transactions at Assurant

In related news, CAO Dimitry Dirienzo sold 2,084 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $175.29, for a total transaction of $365,304.36. Following the completion of the transaction, the chief accounting officer now owns 3,702 shares of the company’s stock, valued at $648,923.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Assurant news, CAO Dimitry Dirienzo sold 2,084 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $175.29, for a total transaction of $365,304.36. Following the completion of the sale, the chief accounting officer now directly owns 3,702 shares in the company, valued at $648,923.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael P. Campbell sold 1,304 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $173.35, for a total transaction of $226,048.40. Following the sale, the executive vice president now directly owns 24,586 shares of the company’s stock, valued at approximately $4,261,983.10. The disclosure for this sale can be found here. Insiders have sold a total of 12,788 shares of company stock worth $2,248,489 in the last three months. Company insiders own 0.53% of the company’s stock.

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.