Fifth Third Wealth Advisors LLC Makes New $343,000 Investment in Assurant, Inc. (NYSE:AIZ)

Fifth Third Wealth Advisors LLC purchased a new position in Assurant, Inc. (NYSE:AIZ) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,821 shares of the financial services provider’s stock, valued at approximately $343,000.

Several other hedge funds have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Assurant by 1.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider’s stock valued at $1,200,000 after buying an additional 73 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Assurant by 31.1% during the 1st quarter. Park Avenue Securities LLC now owns 4,865 shares of the financial services provider’s stock valued at $916,000 after buying an additional 1,154 shares in the last quarter. Perpetual Ltd purchased a new stake in shares of Assurant during the 1st quarter valued at about $789,000. Alaska Permanent Fund Corp raised its position in shares of Assurant by 14.8% during the 1st quarter. Alaska Permanent Fund Corp now owns 20,846 shares of the financial services provider’s stock valued at $3,924,000 after buying an additional 2,687 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Assurant during the 1st quarter valued at about $81,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Trading Up 1.5 %

Assurant stock traded up $2.45 during midday trading on Thursday, reaching $167.26. The stock had a trading volume of 287,280 shares, compared to its average volume of 350,197. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.42. Assurant, Inc. has a 52-week low of $121.51 and a 52-week high of $189.48. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.66 and a beta of 0.56. The company has a fifty day moving average of $172.25 and a 200 day moving average of $173.06.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.91. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Assurant had a net margin of 6.73% and a return on equity of 20.08%. On average, analysts anticipate that Assurant, Inc. will post 16.19 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were paid a $0.72 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.88 dividend on an annualized basis and a yield of 1.72%. Assurant’s dividend payout ratio is currently 20.10%.

Insiders Place Their Bets

In other Assurant news, EVP Michael P. Campbell sold 1,304 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $173.35, for a total value of $226,048.40. Following the transaction, the executive vice president now directly owns 24,586 shares in the company, valued at approximately $4,261,983.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO Francesca Luthi sold 6,700 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the transaction, the chief operating officer now directly owns 10,748 shares in the company, valued at $1,895,517.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael P. Campbell sold 1,304 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $173.35, for a total transaction of $226,048.40. Following the transaction, the executive vice president now owns 24,586 shares in the company, valued at $4,261,983.10. The disclosure for this sale can be found here. Insiders have sold 12,788 shares of company stock worth $2,248,489 in the last three months. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upped their target price on shares of Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research report on Wednesday, May 15th. Piper Sandler increased their price objective on shares of Assurant from $195.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.25.

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.