Generali Asset Management SPA SGR Makes New Investment in Assurant, Inc. (NYSE:AIZ)

Generali Asset Management SPA SGR purchased a new position in shares of Assurant, Inc. (NYSE:AIZ) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 13,171 shares of the financial services provider’s stock, valued at approximately $2,808,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AIZ. True Wealth Design LLC acquired a new position in shares of Assurant in the third quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Assurant in the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its position 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 worth $28,000 after acquiring an additional 75 shares during the period. Jones Financial Companies Lllp raised its position in shares of Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 103 shares during the period. Finally, Huntington National Bank raised its position in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 163 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 in the company, valued at $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

AIZ has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Assurant in a research report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price objective for the company. Truist Financial lifted their target price on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods upgraded shares of Assurant from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $212.00 to $230.00 in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Assurant currently has a consensus rating of “Moderate Buy” and an average target price of $234.17.

Assurant Stock Performance

AIZ opened at $213.76 on Thursday. The firm has a market capitalization of $10.86 billion, a PE ratio of 14.77 and a beta of 0.61. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The firm’s 50-day moving average price is $208.36 and its 200 day moving average price is $206.48.

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

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.50%. Assurant’s dividend payout ratio is presently 22.11%.

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.