Fifth Third Wealth Advisors LLC Increases Holdings in Assurant, Inc. (NYSE:AIZ)

Fifth Third Wealth Advisors LLC increased its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 24.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,271 shares of the financial services provider’s stock after purchasing an additional 450 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Assurant were worth $378,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lyrical Asset Management LP grew its holdings in Assurant by 2.0% during the 4th quarter. Lyrical Asset Management LP now owns 783,257 shares of the financial services provider’s stock valued at $131,971,000 after buying an additional 15,074 shares in the last quarter. Northern Trust Corp grew its stake in Assurant by 23.4% during the fourth quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock valued at $124,194,000 after acquiring an additional 139,680 shares in the last quarter. Norges Bank bought a new stake in Assurant in the 4th quarter valued at $108,253,000. TD Asset Management Inc lifted its stake in Assurant by 7.8% in the 1st quarter. TD Asset Management Inc now owns 470,102 shares of the financial services provider’s stock worth $88,492,000 after purchasing an additional 34,070 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Assurant by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 443,409 shares of the financial services provider’s stock valued at $74,710,000 after purchasing an additional 4,394 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Assurant in a report on Friday, June 28th. Bank of America cut their target price on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Keefe, Bruyette & Woods upped their price target on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Finally, UBS Group increased their price objective on shares of Assurant from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.60.

Assurant Trading Up 0.0 %

Shares of NYSE AIZ traded up $0.02 during trading hours on Wednesday, hitting $189.81. 369,914 shares of the company traded hands, compared to its average volume of 352,366. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.73 and a beta of 0.54. The company’s 50 day moving average price is $171.64 and its 200 day moving average price is $174.59. Assurant, Inc. has a 12 month low of $136.15 and a 12 month high of $190.82. 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 (NYSE:AIZ) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.50. Assurant had a net margin of 6.73% and a return on equity of 20.08%. The business 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 posted $3.89 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Assurant, Inc. will post 16.04 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.72 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.88 annualized dividend and a dividend yield of 1.52%. Assurant’s dividend payout ratio (DPR) is presently 20.10%.

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.