Assurant, Inc. $AIZ Shares Sold by Mayport LLC

Mayport LLC reduced its holdings in Assurant, Inc. (NYSE:AIZ) by 42.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,626 shares of the financial services provider’s stock after selling 2,700 shares during the quarter. Mayport LLC’s holdings in Assurant were worth $785,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. New York State Common Retirement Fund increased its holdings in shares of Assurant by 37.9% in the third quarter. New York State Common Retirement Fund now owns 37,148 shares of the financial services provider’s stock valued at $8,046,000 after buying an additional 10,200 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Assurant by 1,823.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 45,386 shares of the financial services provider’s stock worth $9,871,000 after acquiring an additional 43,026 shares in the last quarter. GW&K Investment Management LLC boosted its stake in shares of Assurant by 25.6% during the 3rd quarter. GW&K Investment Management LLC now owns 274,862 shares of the financial services provider’s stock worth $59,537,000 after acquiring an additional 56,009 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Assurant by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 455,070 shares of the financial services provider’s stock worth $89,872,000 after acquiring an additional 6,041 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Assurant by 23.7% during the third quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock worth $1,085,247,000 after purchasing an additional 959,259 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AIZ shares. Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a research note on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. BMO Capital Markets decreased their target price on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Finally, Piper Sandler lifted their target price on shares of Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and a consensus target price of $258.17.

Assurant Trading Down 2.2%

Shares of NYSE AIZ opened at $217.36 on Wednesday. The business has a 50 day simple moving average of $229.82 and a 200 day simple moving average of $224.56. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $246.31. The stock has a market cap of $10.80 billion, a price-to-earnings ratio of 12.81 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, beating the consensus estimate of $5.55 by $0.06. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.28 billion. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.79 earnings per share. On average, research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.88 per share. The ex-dividend date is Tuesday, February 17th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.6%. Assurant’s dividend payout ratio (DPR) is currently 20.74%.

Assurant 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.