Brooklyn Investment Group Invests $42,000 in Assurant, Inc. (NYSE:AIZ)

Brooklyn Investment Group bought a new position in Assurant, Inc. (NYSE:AIZ) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 209 shares of the financial services provider’s stock, valued at approximately $42,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in shares of Assurant by 6.0% in the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after buying an additional 65,874 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Assurant by 32.5% in the second quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after buying an additional 255,471 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Assurant by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock worth $116,159,000 after buying an additional 12,935 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Assurant by 20.4% in the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock worth $94,118,000 after buying 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 third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock worth $92,460,000 after buying an additional 460,937 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Up 0.0 %

Shares of AIZ stock opened at $227.10 on Friday. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55. The stock has a market cap of $11.65 billion, a P/E ratio of 16.20 and a beta of 0.57. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $203.46 and a two-hundred day simple moving average of $186.07.

Assurant (NYSE:AIZ) last announced its earnings results 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. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the company earned $4.29 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis. On average, research analysts expect that Assurant, Inc. will post 15.41 earnings per share for the current year.

Assurant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, December 9th. This is a boost from Assurant’s previous quarterly dividend of $0.72. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.41%. Assurant’s dividend payout ratio is 22.82%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AIZ shares. UBS Group boosted their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Piper Sandler boosted their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America boosted their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.20.

Insider Transactions at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at $4,321,240.44. This represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.53% of the company’s stock.

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.