Intact Investment Management Inc. Makes New $72,000 Investment in Assurant, Inc. (NYSE:AIZ)

Intact Investment Management Inc. purchased a new position in shares of Assurant, Inc. (NYSE:AIZ) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 360 shares of the financial services provider’s stock, valued at approximately $72,000.

Several other large investors also recently bought and sold shares of AIZ. BNP Paribas Financial Markets increased its holdings in Assurant by 110.2% during the 1st quarter. BNP Paribas Financial Markets now owns 102,995 shares of the financial services provider’s stock worth $19,388,000 after purchasing an additional 53,985 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Assurant by 5.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,816 shares of the financial services provider’s stock valued at $718,000 after acquiring an additional 189 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Assurant by 15.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 5,862 shares of the financial services provider’s stock valued at $1,104,000 after acquiring an additional 801 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Assurant in the 1st quarter valued at about $99,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Assurant by 62.1% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,503 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 959 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Up 1.1 %

Assurant stock opened at $193.23 on Wednesday. Assurant, Inc. has a twelve month low of $158.29 and a twelve month high of $201.55. The stock has a 50 day moving average of $194.45 and a two-hundred day moving average of $180.77. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 2.04 and a beta of 0.57.

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

Assurant Announces Dividend

The business also recently disclosed 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 of this dividend was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.49%. Assurant’s payout ratio is 19.19%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America increased their price objective on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Piper Sandler raised their price target on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. 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 note on Wednesday, August 14th. Finally, UBS Group raised their price target on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $217.00.

Insiders Place Their Bets

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction that occurred on 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 directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of the firm’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 value of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $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 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.