Financial Architects LLC Takes Position in Assurant, Inc. (NYSE:AIZ)

Financial Architects LLC acquired a new stake in shares of Assurant, Inc. (NYSE:AIZ) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,349 shares of the financial services provider’s stock, valued at approximately $2,420,000. Assurant comprises approximately 1.6% of Financial Architects LLC’s portfolio, making the stock its 14th biggest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of AIZ. True Wealth Design LLC acquired a new stake in Assurant during the 3rd quarter worth approximately $25,000. Huntington National Bank boosted its stake in shares of Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group bought a new position in Assurant during the third quarter worth $42,000. Capital Performance Advisors LLP bought a new position in Assurant during the third quarter worth $56,000. Finally, Richardson Financial Services Inc. increased its position in Assurant by 42.8% in the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock worth $61,000 after buying an additional 86 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insider Activity at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now directly owns 20,658 shares in the company, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is owned by insiders.

Assurant Stock Performance

Shares of NYSE AIZ opened at $214.87 on Thursday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average is $214.11 and its two-hundred day moving average is $200.92. The company has a market cap of $11.02 billion, a P/E ratio of 15.33 and a beta of 0.62. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the business posted $4.29 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts expect that Assurant, Inc. will post 15.82 EPS for the current year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s payout ratio is presently 22.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Truist Financial increased their price target on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Morgan Stanley began coverage on Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price objective for the company. Finally, Bank of America lifted their price target on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and a consensus price target of $229.50.

Assurant Profile

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.