Versor Investments LP Has $342,000 Stake in Assurant, Inc. $AIZ

Versor Investments LP lowered its stake in shares of Assurant, Inc. (NYSE:AIZ) by 80.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,577 shares of the financial services provider’s stock after selling 6,651 shares during the period. Versor Investments LP’s holdings in Assurant were worth $342,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Assurant by 72.6% during the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 53 shares during the period. CYBER HORNET ETFs LLC acquired a new position in Assurant in the second quarter worth about $27,000. Cullen Frost Bankers Inc. lifted its stake in Assurant by 1,133.3% during the second quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 136 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Assurant by 65.6% during the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 59 shares in the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of Assurant in the 3rd quarter valued at approximately $34,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Price Performance

Shares of AIZ stock opened at $217.19 on Friday. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $246.31. The firm’s 50 day moving average is $235.50 and its 200-day moving average is $221.65. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 12.80 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.06. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the business posted $4.79 earnings per share. Assurant’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.6%. Assurant’s payout ratio is presently 20.74%.

Wall Street Analysts Forecast Growth

AIZ has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. BMO Capital Markets decreased their price objective on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday. Morgan Stanley lifted their target price on shares of Assurant from $232.00 to $248.00 and gave the company an “equal weight” rating in a research note on Monday, November 17th. Finally, Zacks Research downgraded Assurant from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.17.

About Assurant

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.