1,000 Shares in Assurant, Inc. (NYSE:AIZ) Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC bought a new position in shares of Assurant, Inc. (NYSE:AIZ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,000 shares of the financial services provider’s stock, valued at approximately $213,000.

Several other large investors also recently bought and sold shares of the company. True Wealth Design LLC acquired a new stake in Assurant during the 3rd quarter valued at $25,000. Huntington National Bank grew its stake in Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 163 shares in the last quarter. Brooklyn Investment Group acquired a new position in Assurant in the 3rd quarter worth about $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Assurant during the 3rd quarter worth about $56,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Assurant during the 3rd quarter valued at about $72,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their target price on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Truist Financial upped their price target on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley started coverage on Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price objective on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Assurant has an average rating of “Moderate Buy” and a consensus price target of $229.50.

Assurant Stock Performance

AIZ opened at $215.34 on Friday. The stock has a market cap of $11.04 billion, a PE ratio of 15.36 and a beta of 0.62. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The stock’s 50 day simple moving average is $214.93 and its 200-day simple moving average is $199.62. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the company posted $4.29 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts forecast that Assurant, Inc. will post 15.82 EPS for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.49%. Assurant’s dividend payout ratio is currently 22.82%.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the sale, the executive vice president now owns 20,658 shares in the company, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.