Assurant, Inc. $AIZ Shares Sold by Mayport LLC

Mayport LLC trimmed its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 42.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,626 shares of the financial services provider’s stock after selling 2,700 shares during the period. Mayport LLC’s holdings in Assurant were worth $785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Versant Capital Management Inc boosted its holdings in shares of Assurant by 72.6% in the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after buying an additional 53 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Assurant during the second quarter worth about $27,000. Smartleaf Asset Management LLC raised its stake in Assurant by 65.6% during the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 59 shares during the period. BOKF NA bought a new position in Assurant in the third quarter worth about $32,000. Finally, Root Financial Partners LLC bought a new position in Assurant in the third quarter worth about $34,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Price Performance

Shares of NYSE:AIZ opened at $217.36 on Wednesday. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of 12.81 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $246.31. The stock’s 50 day moving average price is $229.82 and its 200 day moving average price is $224.56.

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

Assurant Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Truist Financial upped their target price on Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 12th. BMO Capital Markets cut their price target on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Wall Street Zen lowered Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Piper Sandler upped their price objective on Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $258.17.

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.