Tobias Financial Advisors Inc. Purchases New Stake in Assurant, Inc. (NYSE:AIZ)

Tobias Financial Advisors Inc. acquired a new position in shares of Assurant, Inc. (NYSE:AIZ) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,200 shares of the financial services provider’s stock, valued at approximately $239,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Leuthold Group LLC purchased a new stake in Assurant during the first quarter valued at about $3,730,000. QRG Capital Management Inc. increased its position in Assurant by 210.7% during the first quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 5,903 shares during the period. GSA Capital Partners LLP acquired a new stake in Assurant in the 1st quarter worth $1,213,000. SteelPeak Wealth LLC raised its holdings in Assurant by 770.1% in the 2nd quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock valued at $2,170,000 after acquiring an additional 11,551 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its position in Assurant by 608.5% in the first quarter. UniSuper Management Pty Ltd now owns 5,640 shares of the financial services provider’s stock worth $1,062,000 after purchasing an additional 4,844 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

AIZ has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Piper Sandler lifted their price target on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. UBS Group increased their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, Bank of America upped their price target on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $217.00.

Assurant Price Performance

Shares of AIZ opened at $193.23 on Wednesday. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. Assurant, Inc. has a 1 year low of $158.29 and a 1 year high of $201.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average of $194.45 and a 200-day moving average of $180.77.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company posted $3.89 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that Assurant, Inc. will post 14.13 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.49%. Assurant’s dividend payout ratio is presently 19.19%.

Insider Buying and Selling

In related news, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Martin Jenns sold 1,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

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.