Fifth Third Wealth Advisors LLC Purchases 450 Shares of Assurant, Inc. (NYSE:AIZ)

Fifth Third Wealth Advisors LLC increased its position in Assurant, Inc. (NYSE:AIZ) by 24.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,271 shares of the financial services provider’s stock after acquiring an additional 450 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Assurant were worth $378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Assurant by 31.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,696 shares of the financial services provider’s stock worth $623,000 after acquiring an additional 886 shares during the period. Cerity Partners LLC grew its holdings in Assurant by 16.2% during the 4th quarter. Cerity Partners LLC now owns 2,247 shares of the financial services provider’s stock valued at $379,000 after buying an additional 314 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in Assurant during the 4th quarter valued at about $539,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Assurant by 13.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,933 shares of the financial services provider’s stock valued at $4,032,000 after buying an additional 2,801 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Assurant by 14.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,061 shares of the financial services provider’s stock worth $853,000 after buying an additional 627 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.

Assurant Price Performance

AIZ traded up $0.02 during trading on Wednesday, reaching $189.81. The stock had a trading volume of 369,914 shares, compared to its average volume of 352,366. The business has a 50-day moving average of $171.64 and a 200-day moving average of $174.59. Assurant, Inc. has a one year low of $136.15 and a one year high of $190.82. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market cap of $9.87 billion, a PE ratio of 13.25, a PEG ratio of 1.73 and a beta of 0.54.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Assurant had a net margin of 6.73% and a return on equity of 20.08%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.89 EPS. As a group, equities research analysts anticipate that Assurant, Inc. will post 16.04 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a $0.72 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.52%. Assurant’s dividend payout ratio (DPR) is currently 20.10%.

Analyst Upgrades and Downgrades

AIZ has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Assurant in a research note on Friday, June 28th. Keefe, Bruyette & Woods upped their price target on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Bank of America dropped their price objective on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, UBS Group lifted their price target on Assurant from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and an average target price of $208.60.

Insider Buying and Selling at Assurant

In other news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Assurant news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. The disclosure for this sale can be found here. Corporate 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.