2,782 Shares in Assurant, Inc. $AIZ Acquired by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC bought a new stake in shares of Assurant, Inc. (NYSE:AIZ) in the third quarter, HoldingsChannel.com reports. The firm bought 2,782 shares of the financial services provider’s stock, valued at approximately $733,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. M Holdings Securities Inc. bought a new position in shares of Assurant during the 3rd quarter valued at $327,000. AlphaCentric Advisors LLC purchased a new position in shares of Assurant in the 3rd quarter worth $135,000. Alps Advisors Inc. purchased a new position in shares of Assurant in the 3rd quarter worth $540,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Assurant in the 3rd quarter worth $368,000. Finally, CenterBook Partners LP bought a new stake in shares of Assurant in the third quarter worth $755,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Trading Down 0.1%

Shares of NYSE:AIZ opened at $306.77 on Monday. The stock has a 50 day moving average of $280.40 and a 200 day moving average of $256.27. The company has a market cap of $15.05 billion, a PE ratio of 14.43 and a beta of 0.52. Assurant, Inc. has a 12-month low of $209.86 and a 12-month high of $316.72. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 0.37.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, November 3rd. The financial services provider reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $4.75 by $1.40. Assurant had a net margin of 7.80% and a return on equity of 20.44%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter last year, the business earned $5.73 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. As a group, equities research analysts expect that Assurant, Inc. will post 22.99 EPS for the current year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, August 31st were paid a $0.88 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Assurant’s dividend payout ratio is 16.56%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Piper Sandler upped their price objective on Assurant from $290.00 to $329.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. UBS Group raised their target price on Assurant from $274.00 to $331.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Keefe, Bruyette & Woods boosted their price target on Assurant from $325.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday. Wall Street Zen upgraded Assurant from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research raised shares of Assurant from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $327.14.

Assurant Profile

Assurant, Inc is a global provider of insurance products and services, with a focus on protecting purchases and supporting housing-related needs. Its operations are organized around Global Housing and Global Lifestyle.

Through its housing business, Assurant offers products and services such as renters, manufactured housing, and lender-placed insurance, along with related claims and risk-management solutions. Its lifestyle business provides mobile device protection, extended service contracts, vehicle protection products, and support services for consumers and business partners.

The company serves customers and business partners in markets across North America, Latin America, Europe, and Asia-Pacific.