Hillsdale Investment Management Inc. Has $4.98 Million Stake in Assurant, Inc. $AIZ

Hillsdale Investment Management Inc. raised its stake in shares of Assurant, Inc. (NYSE:AIZ) by 394.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 20,680 shares of the financial services provider’s stock after purchasing an additional 16,500 shares during the period. Hillsdale Investment Management Inc.’s holdings in Assurant were worth $4,981,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CYBER HORNET ETFs LLC acquired a new position in Assurant during the 2nd quarter valued at about $27,000. Montag A & Associates Inc. acquired a new position in Assurant during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC boosted its stake in Assurant by 65.6% during the 3rd 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 during the last quarter. BOKF NA acquired a new position in Assurant during the 3rd quarter valued at about $32,000. Finally, UMB Bank n.a. boosted its stake in Assurant by 360.0% during the 3rd quarter. UMB Bank n.a. now owns 161 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 126 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Price Performance

Shares of NYSE AIZ opened at $249.21 on Friday. Assurant, Inc. has a twelve month low of $183.39 and a twelve month high of $260.96. The stock’s 50 day moving average price is $232.47 and its 200-day moving average price is $231.02. The company has a market capitalization of $12.35 billion, a PE ratio of 12.75 and a beta of 0.56. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38.

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

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 8th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, June 8th. Assurant’s payout ratio is 18.01%.

Analyst Ratings Changes

A number of equities analysts have issued reports on AIZ shares. Piper Sandler lifted their price target on Assurant from $268.00 to $290.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. BMO Capital Markets cut their target price on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. UBS Group boosted their target price on Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded Assurant from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Assurant has an average rating of “Moderate Buy” and an average price target of $275.83.

Insider Activity at Assurant

In related news, EVP Keith Meier sold 25,000 shares of Assurant stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $254.31, for a total value of $6,357,750.00. Following the sale, the executive vice president owned 18,552 shares of the company’s stock, valued at approximately $4,717,959.12. The trade was a 57.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Subhashish Sengupta sold 1,880 shares of Assurant stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.53, for a total transaction of $395,796.40. Following the completion of the sale, the executive vice president directly owned 2,895 shares in the company, valued at $609,484.35. This trade represents a 39.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 31,650 shares of company stock worth $7,930,981. Company insiders own 0.54% of the company’s stock.

Assurant Company 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.