360 Shares in Assurant, Inc. (NYSE:AIZ) Bought by Intact Investment Management Inc.

Intact Investment Management Inc. acquired a new position in shares of Assurant, Inc. (NYSE:AIZ) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 360 shares of the financial services provider’s stock, valued at approximately $72,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE raised its holdings in Assurant by 7.2% during the third quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 56 shares during the last quarter. SC&H Financial Advisors Inc. acquired a new position in Assurant during the third quarter worth $221,000. abrdn plc raised its holdings in Assurant by 149.3% during the third quarter. abrdn plc now owns 28,982 shares of the financial services provider’s stock worth $5,729,000 after purchasing an additional 17,357 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in Assurant during the third quarter worth $240,000. Finally, Nisa Investment Advisors LLC raised its holdings in Assurant by 0.7% during the third quarter. Nisa Investment Advisors LLC now owns 29,226 shares of the financial services provider’s stock worth $5,812,000 after purchasing an additional 190 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Assurant

In related news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares in the company, valued at approximately $717,329.51. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Bank of America raised their price target on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group raised their price target on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Piper Sandler raised their price target on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $217.00.

Assurant Price Performance

Shares of NYSE:AIZ opened at $193.23 on Wednesday. The company has a market cap of $10.01 billion, a P/E ratio of 12.87, a P/E/G ratio of 2.04 and a beta of 0.57. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. Assurant, Inc. has a 52 week low of $158.29 and a 52 week high of $201.55. The business has a fifty day simple moving average of $194.45 and a 200-day simple moving average of $180.77.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.89 earnings per share. Equities research analysts forecast that Assurant, Inc. will post 14.13 EPS for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Tuesday, September 3rd. Assurant’s payout ratio is currently 19.19%.

Assurant Profile

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.