Sei Investments Co. Acquires 18,966 Shares of Assurant, Inc. $AIZ

Sei Investments Co. increased its stake in shares of Assurant, Inc. (NYSE:AIZ) by 30.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 80,774 shares of the financial services provider’s stock after buying an additional 18,966 shares during the period. Sei Investments Co.’s holdings in Assurant were worth $17,593,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ascent Group LLC increased its position in Assurant by 0.8% in the 4th quarter. Ascent Group LLC now owns 5,339 shares of the financial services provider’s stock valued at $1,286,000 after acquiring an additional 43 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Assurant by 0.3% during the fourth quarter. ProShare Advisors LLC now owns 17,064 shares of the financial services provider’s stock worth $4,110,000 after purchasing an additional 47 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of Assurant by 27.5% during the first quarter. Root Financial Partners LLC now owns 246 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 53 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Assurant by 0.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 5,739 shares of the financial services provider’s stock valued at $1,250,000 after purchasing an additional 54 shares during the last quarter. Finally, Blackhawk Capital Partners LLC grew its stake in shares of Assurant by 2.5% during the first quarter. Blackhawk Capital Partners LLC now owns 2,223 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

Shares of AIZ stock opened at $280.93 on Thursday. Assurant, Inc. has a 12-month low of $183.39 and a 12-month high of $284.64. The firm has a fifty day moving average of $265.83 and a 200-day moving average of $242.06. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 14.37 and a beta of 0.55. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping analysts’ consensus estimates of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the business posted $5.79 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities research analysts forecast that Assurant, Inc. will post 21.04 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 8th were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, June 8th. Assurant’s dividend payout ratio (DPR) is currently 18.01%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AIZ. Morgan Stanley boosted their price objective on shares of Assurant from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods increased their price objective on Assurant from $270.00 to $310.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Weiss Ratings cut Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Piper Sandler reaffirmed an “overweight” rating on shares of Assurant in a research note on Monday, June 22nd. Finally, Royal Bank Of Canada set a $310.00 price target on Assurant in a report on Wednesday, June 17th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and an average price target of $291.43.

Insider Buying and Selling

In related news, CAO Dimitry Dirienzo sold 2,000 shares of Assurant stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total transaction of $511,360.00. Following the completion of the transaction, the chief accounting officer owned 2,741 shares in the company, valued at approximately $700,818.88. This trade represents a 42.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert Lonergan sold 7,000 shares of Assurant stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $262.71, for a total value of $1,838,970.00. Following the transaction, the executive vice president owned 27,374 shares of the company’s stock, valued at $7,191,423.54. This represents a 20.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,000 shares of company stock valued at $9,211,620 in the last ninety days. 0.54% of the stock is owned by company insiders.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.