Oak Associates Ltd. OH Lowers Position in Assurant, Inc. (NYSE:AIZ)

Oak Associates Ltd. OH decreased its position in shares of Assurant, Inc. (NYSE:AIZ) by 0.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 41,303 shares of the financial services provider’s stock after selling 300 shares during the period. Oak Associates Ltd. OH owned about 0.08% of Assurant worth $6,867,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Assurant in the fourth quarter worth $108,253,000. AMF Tjanstepension AB purchased a new position in Assurant during the 1st quarter valued at about $39,013,000. Gillson Capital LP bought a new stake in Assurant during the fourth quarter worth about $27,013,000. Northern Trust Corp grew its holdings in Assurant by 23.4% in the fourth quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock worth $124,194,000 after purchasing an additional 139,680 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of Assurant by 20.4% during the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after purchasing an additional 96,021 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Up 0.5 %

AIZ stock opened at $192.24 on Friday. The stock has a market capitalization of $9.96 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.60 and a beta of 0.57. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. Assurant, Inc. has a 1-year low of $137.50 and a 1-year high of $199.50. The business has a fifty day moving average price of $180.81 and a 200-day moving average price of $176.89.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, topping the consensus estimate of $3.58 by $0.50. The company 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%. Assurant’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company earned $3.89 EPS. Equities analysts forecast that Assurant, Inc. will post 16.54 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is presently 20.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AIZ. Piper Sandler cut Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research report on Thursday, August 22nd. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a report on Thursday. Keefe, Bruyette & Woods raised their price target on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. UBS Group upped their price target on shares of Assurant from $210.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Bank of America cut their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $207.60.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at approximately $593,962.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Martin Jenns sold 1,500 shares of the 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 in the company, valued at approximately $717,329.51. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.