New Age Alpha Advisors LLC Acquires 9,474 Shares of Assurant, Inc. $AIZ

New Age Alpha Advisors LLC raised its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 35,088.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 9,501 shares of the financial services provider’s stock after buying an additional 9,474 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Assurant were worth $2,288,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of AIZ. CYBER HORNET ETFs LLC bought a new position in Assurant during the second quarter valued at $27,000. Montag A & Associates Inc. bought a new position in Assurant during the fourth quarter valued at $28,000. Smartleaf Asset Management LLC lifted its position in Assurant by 65.6% during the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 59 shares during the last quarter. BOKF NA bought a new position in Assurant during the third quarter valued at $32,000. Finally, Root Financial Partners LLC bought a new position in Assurant during the third quarter valued at $34,000. Institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on AIZ shares. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $258.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. UBS Group increased their price objective on shares of Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Truist Financial increased their price objective on shares of Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings lowered shares of Assurant from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 11th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $275.83.

Insider Activity at Assurant

In related news, EVP Keith Meier sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the transaction, the executive vice president owned 18,552 shares of the company’s stock, valued at $4,717,959.12. This trade represents a 57.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Subhashish Sengupta sold 1,880 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the completion of the transaction, the executive vice president directly owned 2,895 shares in the company, valued at $609,484.35. This represents a 39.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 29,650 shares of company stock worth $7,419,621. 0.54% of the stock is currently owned by corporate insiders.

Assurant Price Performance

Assurant stock opened at $256.14 on Wednesday. The firm has a 50-day moving average price of $230.52 and a 200-day moving average price of $230.48. The firm has a market capitalization of $12.69 billion, a PE ratio of 13.10 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 0.38. Assurant, Inc. has a 12-month low of $183.39 and a 12-month high of $260.96.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.29 by $0.66. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.29 billion. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned $5.79 EPS. As a group, equities research analysts forecast that Assurant, Inc. will post 21.04 EPS for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 8th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 8th. Assurant’s dividend payout ratio (DPR) is currently 18.01%.

Assurant Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.