Proficio Capital Partners LLC Takes $12.39 Million Position in Assurant, Inc. (NYSE:AIZ)

Proficio Capital Partners LLC purchased a new stake in Assurant, Inc. (NYSE:AIZ) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 58,108 shares of the financial services provider’s stock, valued at approximately $12,390,000. Proficio Capital Partners LLC owned 0.11% of Assurant at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Assurant by 36.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider’s stock worth $708,016,000 after purchasing an additional 891,292 shares during the period. FMR LLC raised its stake in Assurant by 6.0% during the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after buying an additional 65,874 shares during the period. Mizuho Securities USA LLC lifted its holdings in Assurant by 11,480.4% during the third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock worth $92,460,000 after acquiring an additional 460,937 shares in the last quarter. World Investment Advisors LLC acquired a new position in Assurant in the third quarter valued at about $48,430,000. Finally, Barclays PLC increased its holdings in shares of Assurant by 48.4% in the third quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock worth $38,243,000 after acquiring an additional 62,696 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Down 1.5 %

Shares of AIZ stock opened at $207.78 on Friday. The firm’s fifty day moving average price is $209.59 and its two-hundred day moving average price is $204.99. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The firm has a market capitalization of $10.55 billion, a P/E ratio of 14.36 and a beta of 0.62.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, equities analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s dividend payout ratio is currently 22.11%.

Insider Activity

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the transaction, the executive vice president now owns 17,708 shares in the company, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AIZ shares. Truist Financial lifted their price objective on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley started coverage on shares of Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target for the company. Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. Finally, StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $234.17.

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.