209 Shares in Assurant, Inc. (NYSE:AIZ) Bought by Brooklyn Investment Group

Brooklyn Investment Group bought a new position in shares of Assurant, Inc. (NYSE:AIZ) in the third quarter, according to the company in its most recent 13F 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.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC boosted its position in shares of Assurant by 6.0% during the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after acquiring an additional 65,874 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Assurant by 9.3% during the third quarter. Bank of Montreal Can now owns 47,011 shares of the financial services provider’s stock worth $9,400,000 after acquiring an additional 4,016 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Assurant by 75.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 749 shares of the financial services provider’s stock worth $149,000 after acquiring an additional 321 shares during the last quarter. Davis R M Inc. bought a new position in shares of Assurant during the third quarter worth $219,000. Finally, Cerity Partners LLC boosted its position in shares of Assurant by 57.6% during the third quarter. Cerity Partners LLC now owns 8,105 shares of the financial services provider’s stock worth $1,612,000 after acquiring an additional 2,963 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on AIZ. Bank of America increased their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Truist Financial increased their price objective on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Piper Sandler increased their price objective on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and an average price target of $225.20.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the transaction, the executive vice president now owns 20,658 shares of the company’s stock, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by insiders.

Assurant Price Performance

Assurant stock opened at $227.10 on Friday. The firm has a 50-day moving average price of $203.46 and a 200-day moving average price of $186.07. The firm has a market capitalization of $11.65 billion, a PE 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. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.48. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $4.29 EPS. As a group, equities research analysts forecast that Assurant, Inc. will post 15.41 EPS for the current year.

Assurant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, December 9th. This is an increase from Assurant’s previous quarterly dividend of $0.72. Assurant’s dividend payout ratio (DPR) is currently 22.82%.

Assurant Company 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.