Assurant, Inc. (NYSE:AIZ) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in Assurant, Inc. (NYSE:AIZ) by 75.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,359 shares of the financial services provider’s stock after acquiring an additional 3,154 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Assurant were worth $1,569,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. True Wealth Design LLC purchased a new stake in Assurant in the 3rd quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Assurant in the fourth quarter valued at $28,000. Huntington National Bank raised its holdings 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 valued at $39,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Assurant during the third quarter worth about $42,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Assurant during the third quarter worth about $56,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on AIZ shares. Truist Financial upped their price objective on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Morgan Stanley assumed 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 on the stock. Finally, Keefe, Bruyette & Woods upgraded shares of Assurant from a “market perform” rating to an “outperform” rating and upped their price objective for the stock 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $234.17.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Assurant Stock Up 0.8 %

Assurant stock opened at $209.64 on Tuesday. The stock’s 50 day moving average price is $209.56 and its 200 day moving average price is $205.30. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a market cap of $10.65 billion, a PE ratio of 14.49 and a beta of 0.62. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. On average, sell-side analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given 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 yield of 1.53%. Assurant’s payout ratio is currently 22.11%.

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.