Bayesian Capital Management LP Buys New Stake in Assurant, Inc. (NYSE:AIZ)

Bayesian Capital Management LP bought a new stake in Assurant, Inc. (NYSE:AIZ) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,622 shares of the financial services provider’s stock, valued at approximately $1,058,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Paloma Partners Management Co purchased a new position in shares of Assurant in the first quarter valued at $295,000. SVB Wealth LLC purchased a new position in Assurant during the first quarter worth $321,000. Shell Asset Management Co. boosted its stake in Assurant by 25.4% during the first quarter. Shell Asset Management Co. now owns 13,441 shares of the financial services provider’s stock worth $2,530,000 after buying an additional 2,721 shares during the period. Natixis boosted its stake in Assurant by 587.0% during the first quarter. Natixis now owns 42,313 shares of the financial services provider’s stock worth $7,965,000 after buying an additional 36,154 shares during the period. Finally, Lake Street Advisors Group LLC purchased a new position in Assurant during the first quarter worth $212,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on AIZ. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Assurant in a research note on Friday, June 28th. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 15th. Finally, Bank of America dropped their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and an average target price of $204.60.

Insider Activity at Assurant

In other Assurant news, COO Francesca Luthi sold 6,700 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 10,748 shares in the company, valued at $1,895,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Assurant news, COO Francesca Luthi sold 6,700 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 10,748 shares in the company, valued at $1,895,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael P. Campbell sold 1,304 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $173.35, for a total value of $226,048.40. Following the sale, the executive vice president now owns 24,586 shares in the company, valued at approximately $4,261,983.10. The disclosure for this sale can be found here. Insiders sold 12,788 shares of company stock worth $2,248,489 over the last three months. 0.53% of the stock is owned by corporate insiders.

Assurant Trading Down 0.1 %

Shares of NYSE:AIZ traded down $0.09 on Wednesday, hitting $175.75. 4,482 shares of the company’s stock were exchanged, compared to its average volume of 347,068. Assurant, Inc. has a 12 month low of $133.13 and a 12 month high of $189.48. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 1.71 and a beta of 0.54. The business’s 50 day simple moving average is $168.87 and its two-hundred day simple moving average is $173.38. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.91. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.82 billion. Analysts anticipate that Assurant, Inc. will post 16.07 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were issued a $0.72 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.88 annualized dividend and a dividend yield of 1.64%. Assurant’s payout ratio is currently 20.10%.

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.