Assurant, Inc. (NYSE:AIZ) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers lifted its stake in shares of Assurant, Inc. (NYSE:AIZ) by 10.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,342 shares of the financial services provider’s stock after purchasing an additional 1,369 shares during the quarter. Cetera Investment Advisers’ holdings in Assurant were worth $2,384,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AIZ. Catalyst Financial Partners LLC increased its holdings in Assurant by 4.2% in the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock valued at $244,000 after buying an additional 59 shares in the last quarter. Empirical Finance LLC increased its stake in Assurant by 3.3% in the 1st quarter. Empirical Finance LLC now owns 1,980 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 64 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Assurant by 1.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,373 shares of the financial services provider’s stock worth $1,200,000 after purchasing an additional 73 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 77 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Assurant by 35.7% in the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AIZ. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a research note on Wednesday. UBS Group upped their price target on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Bank of America raised their price objective on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler upped their target price on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods raised their price target on Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.60.

Insider Buying and Selling

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

Assurant Stock Performance

Shares of AIZ opened at $191.89 on Friday. Assurant, Inc. has a 1 year low of $144.61 and a 1 year high of $201.55. The company’s 50 day simple moving average is $190.78 and its 200 day simple moving average is $179.02. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.61 and a beta of 0.57. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.50. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.89 earnings per share. On average, sell-side analysts predict that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.88 annualized dividend and a dividend yield of 1.50%. Assurant’s payout ratio is currently 20.10%.

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.