SG Americas Securities LLC Sells 45,267 Shares of Assurant, Inc. $AIZ

SG Americas Securities LLC trimmed its stake in shares of Assurant, Inc. (NYSE:AIZ) by 72.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,965 shares of the financial services provider’s stock after selling 45,267 shares during the quarter. SG Americas Securities LLC’s holdings in Assurant were worth $3,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AIZ. Norges Bank acquired a new position in shares of Assurant in the 4th quarter worth approximately $161,574,000. Adage Capital Partners GP L.L.C. boosted its stake in Assurant by 676.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 240,240 shares of the financial services provider’s stock valued at $57,862,000 after buying an additional 209,300 shares in the last quarter. Millennium Management LLC boosted its stake in Assurant by 122.9% in the 4th quarter. Millennium Management LLC now owns 322,235 shares of the financial services provider’s stock valued at $77,610,000 after buying an additional 177,642 shares in the last quarter. Gillson Capital LP grew its position in Assurant by 62.6% in the fourth quarter. Gillson Capital LP now owns 390,205 shares of the financial services provider’s stock valued at $93,981,000 after acquiring an additional 150,168 shares during the period. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in Assurant in the fourth quarter valued at $36,195,000. 92.65% of the stock is currently owned by institutional investors.

Assurant Trading Up 1.1%

Shares of AIZ opened at $267.34 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 13.67 and a beta of 0.56. The stock has a fifty day moving average price of $249.19 and a two-hundred day moving average price of $235.90. Assurant, Inc. has a 52-week low of $183.39 and a 52-week high of $268.67.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping the consensus estimate of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the business earned $5.79 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts predict that Assurant, Inc. will post 21.04 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 8th were given a dividend of $0.88 per share. The ex-dividend date was Monday, June 8th. This represents a $3.52 annualized dividend and a yield of 1.3%. Assurant’s dividend payout ratio is 18.01%.

Analyst Upgrades and Downgrades

AIZ has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on Assurant from $258.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Morgan Stanley raised shares of Assurant from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $240.00 to $285.00 in a report on Thursday, May 14th. Weiss Ratings downgraded shares of Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, June 23rd. Piper Sandler restated an “overweight” rating on shares of Assurant in a research report on Monday, June 22nd. Finally, Truist Financial upped their price objective on shares of Assurant from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $283.57.

Insider Activity at Assurant

In other Assurant news, EVP Jay Rosenblum sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $251.77, for a total value of $503,540.00. Following the completion of the sale, the executive vice president owned 12,764 shares in the company, valued at approximately $3,213,592.28. This trade represents a 13.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total transaction of $511,360.00. Following the completion of the transaction, the chief accounting officer directly owned 2,741 shares of the company’s stock, valued at approximately $700,818.88. This represents a 42.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,000 shares of company stock worth $9,211,620 in the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Assurant Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.