Assurant, Inc. (NYSE:AIZ) Sees Significant Growth in Short Interest

Assurant, Inc. (NYSE:AIZ) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 828,735 shares, a growth of 25.6% from the December 31st total of 660,030 shares. Based on an average trading volume of 329,689 shares, the short-interest ratio is presently 2.5 days. Currently, 1.7% of the company’s stock are sold short. Currently, 1.7% of the company’s stock are sold short. Based on an average trading volume of 329,689 shares, the short-interest ratio is presently 2.5 days.

Assurant Stock Performance

Shares of Assurant stock traded up $0.65 during trading on Wednesday, hitting $241.88. 176,233 shares of the stock were exchanged, compared to its average volume of 317,246. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The company has a fifty day moving average price of $234.60 and a 200-day moving average price of $219.63. The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of 14.73 and a beta of 0.56. Assurant has a 1-year low of $174.97 and a 1-year high of $244.82.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $5.73 EPS for the quarter, topping analysts’ consensus estimates of $4.23 by $1.50. Assurant had a return on equity of 18.61% and a net margin of 6.75%.The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the company posted $3.00 earnings per share. Assurant’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts predict that Assurant will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Tuesday, February 17th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, February 17th. Assurant’s payout ratio is currently 21.42%.

Institutional Trading of Assurant

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its position in Assurant by 606.7% during the first quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 910 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Assurant by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock worth $60,987,000 after purchasing an additional 47,548 shares during the last quarter. United Services Automobile Association bought a new stake in Assurant in the 1st quarter valued at $203,000. Focus Partners Wealth boosted its stake in Assurant by 66.6% in the 1st quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock valued at $556,000 after purchasing an additional 1,059 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Assurant by 57.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Analysts Set New Price Targets

AIZ has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Morgan Stanley upped their price objective on Assurant from $232.00 to $248.00 and gave the stock an “equal weight” rating in a research report on Monday, November 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Assurant in a report on Monday, December 29th. UBS Group lifted their target price on Assurant from $255.00 to $257.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Truist Financial set a $255.00 price target on Assurant in a research report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.67.

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.