Caitlin John LLC Invests $1.05 Million in Assurant, Inc. $AIZ

Caitlin John LLC bought a new stake in Assurant, Inc. (NYSE:AIZ) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,917 shares of the financial services provider’s stock, valued at approximately $1,052,000. Assurant makes up approximately 0.6% of Caitlin John LLC’s holdings, making the stock its 26th biggest position.

Other large investors have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new position in shares of Assurant in the second quarter worth $27,000. Montag A & Associates Inc. acquired a new position in Assurant in the 4th quarter valued at about $28,000. First Bancorp Inc ME acquired a new position in Assurant in the 2nd quarter valued at about $31,000. BOKF NA acquired a new position in Assurant in the 3rd quarter valued at about $32,000. Finally, Western Wealth Management LLC purchased a new position in Assurant in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insiders Place Their Bets

In other Assurant news, EVP Robert Lonergan sold 7,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $262.71, for a total transaction of $1,838,970.00. Following the completion of the sale, the executive vice president owned 27,374 shares of the company’s stock, valued at approximately $7,191,423.54. The trade was a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nair Biju sold 3,931 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $302.46, for a total value of $1,188,970.26. Following the sale, the executive vice president directly owned 24,247 shares of the company’s stock, valued at approximately $7,333,747.62. This trade represents a 13.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.54% of the stock is currently owned by company insiders.

Assurant Price Performance

Assurant stock opened at $285.38 on Friday. Assurant, Inc. has a 1 year low of $205.01 and a 1 year high of $303.94. The firm has a 50 day moving average price of $278.41 and a 200 day moving average price of $249.02. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 13.63 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $5.17 by $1.24. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the business posted $5.56 earnings per share. Assurant’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Assurant, Inc. will post 22.05 earnings per share for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Investors of record on Monday, August 31st will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. Assurant’s dividend payout ratio (DPR) is 16.81%.

Wall Street Analysts Forecast Growth

AIZ has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Assurant from $290.00 to $329.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. UBS Group raised their target price on shares of Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Morgan Stanley boosted their price target on Assurant from $300.00 to $320.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings upgraded Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $316.57.

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.