GSA Capital Partners LLP Invests $1.21 Million in Assurant, Inc. (NYSE:AIZ)

GSA Capital Partners LLP bought a new stake in Assurant, Inc. (NYSE:AIZ) in the 1st quarter, Holdings Channel reports. The institutional investor bought 6,442 shares of the financial services provider’s stock, valued at approximately $1,213,000.

Several other large investors have also made changes to their positions in AIZ. Norges Bank bought a new stake in shares of Assurant during the 4th quarter worth $108,253,000. AMF Tjanstepension AB bought a new stake in shares of Assurant during the 1st quarter valued at approximately $39,013,000. Gillson Capital LP acquired a new position in Assurant during the 4th quarter worth approximately $27,013,000. Northern Trust Corp lifted its stake in Assurant by 23.4% in the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock valued at $124,194,000 after purchasing an additional 139,680 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Assurant by 279.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 179,663 shares of the financial services provider’s stock valued at $30,271,000 after buying an additional 132,275 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Trading Up 1.4 %

NYSE:AIZ traded up $2.21 during trading hours on Wednesday, hitting $163.82. 54,923 shares of the company were exchanged, compared to its average volume of 354,028. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.61 and a beta of 0.54. Assurant, Inc. has a one year low of $124.22 and a one year high of $189.48. The company has a fifty day simple moving average of $170.51 and a 200 day simple moving average of $173.01. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.91. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. Sell-side analysts expect that Assurant, Inc. will post 16.2 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were given a $0.72 dividend. The ex-dividend date was Monday, June 10th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.76%. Assurant’s dividend payout ratio (DPR) is currently 20.10%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target on shares of Assurant in a research note on Friday, June 28th. Keefe, Bruyette & Woods boosted their price target on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.25.

Insider Activity

In related news, COO Francesca Luthi sold 6,700 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $176.36, for a total value of $1,181,612.00. Following the transaction, the chief operating officer now owns 10,748 shares in the company, valued at $1,895,517.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Assurant news, COO Francesca Luthi sold 6,700 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total value of $1,181,612.00. Following the transaction, the chief operating officer now directly owns 10,748 shares of the company’s stock, valued at $1,895,517.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael P. Campbell sold 1,304 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $173.35, for a total value 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. In the last three months, insiders have sold 12,788 shares of company stock valued at $2,248,489. 0.53% of the stock is currently owned by insiders.

About Assurant

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.