Vest Financial LLC Has $4.04 Million Holdings in Assurant, Inc. $AIZ

Vest Financial LLC increased its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 24.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,475 shares of the financial services provider’s stock after purchasing an additional 4,047 shares during the quarter. Vest Financial LLC’s holdings in Assurant were worth $4,044,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new position in Assurant during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in Assurant during the first quarter worth $28,000. REAP Financial Group LLC boosted its holdings in Assurant by 193.9% during the second quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 95 shares during the last quarter. Private Trust Co. NA boosted its holdings in Assurant by 192.2% during the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in Assurant by 312.8% during the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Benchmark assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They set a “buy” rating on the stock. BMO Capital Markets assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an “outperform” rating and a $238.00 price target on the stock. Stephens assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an “overweight” rating on the stock. Piper Sandler upped their price target on shares of Assurant from $238.00 to $248.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Zacks Research raised shares of Assurant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $243.00.

Assurant Price Performance

Shares of AIZ opened at $217.70 on Tuesday. The firm has a market capitalization of $10.99 billion, a PE ratio of 15.76 and a beta of 0.55. The company’s 50-day moving average is $212.91 and its 200-day moving average is $200.74. Assurant, Inc. has a fifty-two week low of $174.97 and a fifty-two week high of $230.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business had revenue of $2.42 billion for the quarter. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. Equities analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Assurant’s dividend payout ratio (DPR) is currently 23.17%.

Insider Buying and Selling

In related news, CAO Dimitry Dirienzo sold 950 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $204.96, for a total transaction of $194,712.00. Following the transaction, the chief accounting officer directly owned 3,135 shares of the company’s stock, valued at approximately $642,549.60. This trade represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith Demmings sold 13,725 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the transaction, the chief executive officer directly owned 84,647 shares in the company, valued at approximately $18,666,356.44. This represents a 13.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,125 shares of company stock valued at $5,917,925. 0.51% of the stock is owned by company insiders.

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.