Mountain Pacific Investment Advisers Inc. ID trimmed its stake in Assurant, Inc. (NYSE:AIZ – Free Report) by 1.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 180,942 shares of the financial services provider’s stock after selling 2,547 shares during the quarter. Assurant accounts for 1.5% of Mountain Pacific Investment Advisers Inc. ID’s portfolio, making the stock its 26th largest position. Mountain Pacific Investment Advisers Inc. ID owned about 0.34% of Assurant worth $21,726,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. State of Michigan Retirement System boosted its position in Assurant by 0.7% during the first quarter. State of Michigan Retirement System now owns 14,467 shares of the financial services provider’s stock valued at $1,737,000 after purchasing an additional 100 shares during the last quarter. Ethic Inc. grew its position in Assurant by 273.8% in the first quarter. Ethic Inc. now owns 6,459 shares of the financial services provider’s stock worth $776,000 after acquiring an additional 4,731 shares in the last quarter. Korea Investment CORP lifted its stake in shares of Assurant by 3.5% in the 4th quarter. Korea Investment CORP now owns 20,074 shares of the financial services provider’s stock valued at $2,510,000 after purchasing an additional 673 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Assurant by 1.9% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 83,373 shares of the financial services provider’s stock worth $10,011,000 after acquiring an additional 1,574 shares in the last quarter. Finally, Perpetual Ltd bought a new position in shares of Assurant in the 1st quarter valued at approximately $410,000. 93.13% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on AIZ shares. Piper Sandler raised Assurant from a “neutral” rating to an “overweight” rating and set a $144.00 price target on the stock in a research report on Tuesday, June 13th. Truist Financial boosted their target price on shares of Assurant from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, StockNews.com started coverage on shares of Assurant in a report on Thursday, August 17th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $141.00.
Insider Activity at Assurant
In other Assurant news, CFO Richard S. Dziadzio sold 4,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $131.07, for a total transaction of $524,280.00. Following the completion of the sale, the chief financial officer now directly owns 55,893 shares of the company’s stock, valued at approximately $7,325,895.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Robert Lonergan sold 3,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $144.43, for a total value of $433,290.00. Following the transaction, the executive vice president now directly owns 17,981 shares in the company, valued at approximately $2,596,995.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard S. Dziadzio sold 4,000 shares of Assurant stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $131.07, for a total value of $524,280.00. Following the sale, the chief financial officer now directly owns 55,893 shares of the company’s stock, valued at $7,325,895.51. The disclosure for this sale can be found here. Insiders sold 14,700 shares of company stock valued at $2,059,393 in the last ninety days. Insiders own 0.39% of the company’s stock.
Assurant Stock Performance
Shares of AIZ traded down $0.59 on Wednesday, reaching $140.45. 21,204 shares of the stock traded hands, compared to its average volume of 394,428. The stock’s 50-day moving average price is $135.78 and its 200-day moving average price is $127.33. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 21.94, a P/E/G ratio of 0.80 and a beta of 0.55. Assurant, Inc. has a 12 month low of $104.49 and a 12 month high of $158.41.
Assurant (NYSE:AIZ – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $1.29. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Assurant had a return on equity of 13.66% and a net margin of 3.27%. Equities analysts forecast that Assurant, Inc. will post 12.58 EPS for the current fiscal year.
Assurant Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Monday, August 28th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, August 25th. Assurant’s dividend payout ratio (DPR) is currently 43.55%.
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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.
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