Assurant, Inc. $AIZ Stock Bought by Yousif Capital Management LLC

Yousif Capital Management LLC raised its stake in shares of Assurant, Inc. (NYSE:AIZ) by 40.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,479 shares of the financial services provider’s stock after purchasing an additional 2,172 shares during the period. Yousif Capital Management LLC’s holdings in Assurant were worth $1,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AIZ. First Bancorp Inc ME purchased a new position in shares of Assurant in the 2nd quarter worth approximately $31,000. Arlington Trust Co LLC boosted its stake in Assurant by 81.4% during the second quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider’s stock worth $34,000 after buying an additional 57 shares during the period. Transamerica Financial Advisors LLC purchased a new position in Assurant during the second quarter worth $40,000. Western Wealth Management LLC purchased a new position in Assurant during the first quarter worth $33,000. Finally, Root Financial Partners LLC increased its position in Assurant by 27.5% during the first quarter. Root Financial Partners LLC now owns 246 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 53 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

Insider Activity at Assurant

In other news, EVP Biju Nair sold 3,931 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $302.46, for a total value of $1,188,970.26. Following the transaction, the executive vice president directly owned 24,247 shares in the company, valued at approximately $7,333,747.62. This represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

AIZ has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $310.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. UBS Group lifted their price target on shares of Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Morgan Stanley cut their price target on shares of Assurant from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Finally, Piper Sandler increased their price objective on shares of Assurant from $290.00 to $329.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $324.29.

Assurant Price Performance

Shares of AIZ stock opened at $284.84 on Thursday. The stock has a 50 day moving average price of $278.22 and a 200 day moving average price of $254.03. Assurant, Inc. has a 52-week low of $206.03 and a 52-week high of $303.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a market capitalization of $14.05 billion, a P/E ratio of 13.60 and a beta of 0.52.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, beating the consensus estimate of $5.17 by $1.24. Assurant had a return on equity of 20.40% and a net margin of 7.90%. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the company posted $5.56 EPS. Assurant’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, sell-side analysts predict that Assurant, Inc. will post 22.40 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, August 31st were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, August 31st. Assurant’s payout ratio is currently 16.81%.

About Assurant

Assurant, Inc (NYSE:AIZ) is a global business services company that provides insurance products and related services. Its offerings are designed to help consumers protect mobile devices, household belongings, vehicles, homes and other significant purchases, while supporting businesses in managing risk and customer relationships.

Assurant operates through three primary business segments: Global Lifestyle, Global Housing and Global Preneed. Global Lifestyle provides mobile device protection, extended service contracts and related services for consumer electronics, appliances and vehicles.