Assurant, Inc. (NYSE:AIZ) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in Assurant, Inc. (NYSE:AIZ) by 18.5% during the fourth quarter, HoldingsChannel reports. The firm owned 97,413 shares of the financial services provider’s stock after buying an additional 15,218 shares during the period. Envestnet Asset Management Inc.’s holdings in Assurant were worth $20,770,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Assurant in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC increased its holdings in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 75 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 103 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Assurant by 503.1% during the fourth quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 161 shares during the period. Finally, Richardson Financial Services Inc. grew its position in Assurant by 42.8% in the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock valued at $61,000 after buying an additional 86 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Stock Performance

NYSE AIZ opened at $195.25 on Tuesday. The business has a 50 day moving average price of $204.03 and a 200 day moving average price of $207.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $9.92 billion, a P/E ratio of 13.49 and a beta of 0.53. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Sell-side analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, February 3rd were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.64%. The ex-dividend date was Monday, February 3rd. Assurant’s dividend payout ratio (DPR) is 22.11%.

Insider Activity

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. The trade was a 14.49 % 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. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial lifted their price objective on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 target price for the company in a research note on Thursday, April 10th. Finally, Keefe, Bruyette & Woods decreased their price target on Assurant from $230.00 to $224.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Assurant has a consensus rating of “Moderate Buy” and a consensus price target of $234.17.

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.