Janney Montgomery Scott LLC has $718,000 in shares of Assurant, Inc. (NYSE:AIZ)

Janney Montgomery Scott LLC increased its position in shares of Assurant, Inc. (NYSE:AIZ – Free Report) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,816 shares of the financial services company after purchasing an additional 189 shares during the quarter. Janney Montgomery Scott LLC’s shares of Assurant were worth $718,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in Assurant by 6.8% in the fourth quarter. CWM LLC now owns 976 shares of the financial services provider’s stock worth $164,000 after purchasing an additional 62 shares in the last quarter. Fifth Third Bancorp increased its position in Assurant by 3.8% in the first quarter. Fifth Third Bancorp now owns 1,949 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 71 shares in the last quarter. Arizona State Retirement System increased its position in Assurant by 0.5% in the fourth quarter. Arizona State Retirement System now owns 14,573 shares of the financial services provider’s stock worth $2,455,000 after purchasing an additional 73 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Assurant by 1.2% in the 1st 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 in the last quarter. Finally, Tectonic Advisors LLC increased its position in Assurant by 4.0% in the 4th quarter. Tectonic Advisors LLC now owns 2,197 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 85 shares in the last quarter. 92.65% of the shares are held by institutional investors.

Insider Purchases and Sales at Assurant

In other news, CAO Dimitry Dirienzo sold 2,084 shares of the company’s stock in a transaction dated Friday, May 17. The shares were sold at an average price of $175.29, for a total value of $365,304.36. Following the transaction, the chief accounting officer now owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The transaction was disclosed in a document filed with the SEC, which is available on the SEC website. In other news, CAO Dimitry Dirienzo sold 2,084 shares of the company’s stock in a transaction dated Friday, May 17. The shares were sold at an average price of $175.29, for a total transaction of $365,304.36. Following the completion of the transaction, the chief accounting officer now directly owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this link. Also, EVP Michael P. Campbell sold 1,304 shares of the company’s stock in a transaction dated Monday, May 20. The shares were sold at an average price of $173.35, for a total value of $226,048.40. Following the completion of the sale, the executive vice president now directly owns 24,586 shares of the company’s stock, valued at $4,261,983.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,788 shares of the company’s stock for $2,248,489. 0.53% of the shares are currently held by insiders.

Wall Street analysts predict growth

Several analysts have recently commented on AIZ shares. Bank of America lowered their price target on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Piper Sandler re-issued an “overweight” rating and set a $205.00 price target on shares of Assurant in a report on Friday, June 28th. Finally, Keefe, Bruyette & Woods increased their price target 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.60.

View our latest research report on AIZ

Assurant shares down 1.5%

NYSE AIZ opened Friday at $169.79. The stock has a market cap of $8.83 billion, a price/earnings ratio of 11.85, a price/earnings growth ratio of 1.69 and a beta of 0.54. Assurant, Inc. has a 52-week low of $127.22 and a 52-week high of $189.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a 50-day moving average of $169.28 and a 200-day moving average of $173.05.

Assurant (NYSE:AIZ – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7. The financial services company reported $4.78 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.91. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The company had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. On average, equities research analysts predict that Assurant, Inc. will post 16.14 EPS for the current year.

Assurant announces dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were paid a dividend of $0.72. The ex-dividend date was Monday, June 10th. This represents an annualized dividend of $2.88 and a yield of 1.70%. Assurant’s dividend payout ratio is currently 20.10%.

About Assurant

(Free Report)

Assurant, Inc., together with its subsidiaries, provides business services that support, protect and connect consumer purchases in North America, Latin America, Europe and the Asia Pacific region. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment provides mobile device solutions, 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.

Read further

Want to know which other hedge funds own AIZ? Visit HoldingsChannel.com for the latest 13F filings and insider transactions for Assurant, Inc. (NYSE:AIZ – Free Report).

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