AMF Tjanstepension AB Purchases Shares of 207,253 Assurant, Inc. (NYSE:AIZ)

AMF Tjanstepension AB acquired a new stake in Assurant, Inc. (NYSE:AIZ) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 207,253 shares of the financial services provider’s stock, valued at approximately $39,013,000. AMF Tjanstepension AB owned 0.40% of Assurant at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AIZ. BKM Wealth Management LLC purchased a new position in Assurant during the 4th quarter valued at about $25,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Assurant in the 4th quarter worth approximately $40,000. Assetmark Inc. purchased a new position in shares of Assurant during the fourth quarter valued at approximately $44,000. Quarry LP bought a new position in shares of Assurant during the fourth quarter valued at approximately $51,000. Finally, Parkside Financial Bank & Trust lifted its stake in Assurant by 52.0% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 106 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Down 0.6 %

Assurant stock traded down $1.01 on Friday, hitting $166.25. 573,550 shares of the stock traded hands, compared to its average volume of 352,085. The business’s fifty day simple moving average is $172.10 and its 200 day simple moving average is $173.04. The firm has a market cap of $8.64 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.64 and a beta of 0.56. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42. Assurant, Inc. has a 1 year low of $122.42 and a 1 year high of $189.48.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $0.91. Assurant had a net margin of 6.73% and a return on equity of 20.08%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. As a group, sell-side analysts forecast that Assurant, Inc. will post 16.19 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were given a $0.72 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.73%. Assurant’s dividend payout ratio is currently 20.10%.

Insider Transactions at Assurant

In related news, CAO Dimitry Dirienzo sold 2,084 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $175.29, for a total transaction of $365,304.36. Following the completion of the transaction, the chief accounting officer now owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Dimitry Dirienzo sold 2,084 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $175.29, for a total transaction of $365,304.36. Following the sale, the chief accounting officer now directly owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Campbell sold 1,304 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $173.35, for a total transaction of $226,048.40. Following the sale, the executive vice president now owns 24,586 shares of the company’s stock, valued at $4,261,983.10. The disclosure for this sale can be found here. Insiders have sold a total of 12,788 shares of company stock valued at $2,248,489 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective on shares of Assurant in a report on Friday. Keefe, Bruyette & Woods increased their price target on shares of Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.25.

Assurant Company 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.