Assurant, Inc. (NYSE:AIZ) Shares Purchased by Menard Financial Group LLC

Menard Financial Group LLC boosted its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 7.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,434 shares of the financial services provider’s stock after purchasing an additional 94 shares during the period. Menard Financial Group LLC’s holdings in Assurant were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Assurant by 6.0% in the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock valued at $231,392,000 after buying an additional 65,874 shares during the period. AQR Capital Management LLC boosted its position in Assurant by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after purchasing an additional 255,471 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Assurant by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock worth $116,159,000 after purchasing an additional 12,935 shares during the period. TD Asset Management Inc increased its holdings in shares of Assurant by 20.4% during the 2nd 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. Finally, Mizuho Securities USA LLC lifted its stake in shares of Assurant by 11,480.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after purchasing an additional 460,937 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Truist Financial raised their price target on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Bank of America raised their target price on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price target on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Piper Sandler boosted their price objective on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

Assurant Price Performance

Shares of NYSE AIZ opened at $227.23 on Wednesday. The stock has a market capitalization of $11.65 billion, a price-to-earnings ratio of 16.21 and a beta of 0.61. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The firm has a 50-day simple moving average of $204.62 and a 200-day simple moving average of $186.93. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. Assurant’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.29 EPS. On average, equities analysts predict that Assurant, Inc. will post 15.41 earnings per share for the current fiscal year.

Assurant Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.41%. This is a positive change from Assurant’s previous quarterly dividend of $0.72. Assurant’s payout ratio is 20.54%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the transaction, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. The trade was a 12.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.53% of the stock is owned by company 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.