Oak Associates Ltd. OH Sells 300 Shares of Assurant, Inc. (NYSE:AIZ)

Oak Associates Ltd. OH cut its stake in shares of Assurant, Inc. (NYSE:AIZ) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,303 shares of the financial services provider’s stock after selling 300 shares during the quarter. Oak Associates Ltd. OH’s holdings in Assurant were worth $6,867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Assurant during the second quarter valued at approximately $31,000. Assetmark Inc. purchased a new position in shares of Assurant during the 4th quarter valued at $44,000. Quarry LP bought a new position in Assurant in the 4th quarter worth $51,000. Family Firm Inc. purchased a new stake in Assurant in the 2nd quarter worth $51,000. Finally, Blue Trust Inc. raised its holdings in Assurant by 40.1% during the second quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 101 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Stock Up 0.5 %

NYSE AIZ opened at $192.24 on Friday. The stock has a 50 day moving average price of $180.81 and a 200-day moving average price of $176.89. Assurant, Inc. has a one year low of $137.50 and a one year high of $199.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $9.96 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.60 and a beta of 0.57.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm earned $3.89 earnings per share. Assurant’s revenue was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Assurant, Inc. will post 16.54 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.88 annualized dividend and a yield of 1.50%. Assurant’s payout ratio is currently 20.10%.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Assurant news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler cut Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 target price for the company. in a research report on Thursday, August 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Bank of America reduced their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. UBS Group upped their target price on shares of Assurant from $210.00 to $217.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Finally, StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.60.

About Assurant

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.