Prana Capital Management LP Has $9.24 Million Position in Assurant, Inc. $AIZ

Prana Capital Management LP cut its position in shares of Assurant, Inc. (NYSE:AIZ) by 17.2% in the third quarter, Holdings Channel reports. The institutional investor owned 42,645 shares of the financial services provider’s stock after selling 8,853 shares during the period. Prana Capital Management LP’s holdings in Assurant were worth $9,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AIZ. Illinois Municipal Retirement Fund boosted its position in Assurant by 0.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,917 shares of the financial services provider’s stock worth $3,448,000 after acquiring an additional 48 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Assurant by 3.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 1,335 shares of the financial services provider’s stock worth $264,000 after acquiring an additional 49 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 53 shares during the last quarter. Cresset Asset Management LLC lifted its position in shares of Assurant by 5.4% in the second quarter. Cresset Asset Management LLC now owns 1,075 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 55 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Assurant by 65.6% in the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Piper Sandler boosted their price objective on Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Truist Financial upped their price objective on Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Assurant in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Assurant presently has an average rating of “Moderate Buy” and a consensus target price of $258.17.

Assurant Stock Down 2.2%

AIZ opened at $217.36 on Wednesday. The firm has a market capitalization of $10.80 billion, a P/E ratio of 12.81 and a beta of 0.58. Assurant, Inc. has a one year low of $174.97 and a one year high of $246.31. The company has a fifty day moving average price of $229.82 and a 200-day moving average price of $224.56. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.06. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.28 billion. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $4.79 EPS. Equities research analysts expect 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. Investors of record on Tuesday, February 17th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, February 17th. Assurant’s payout ratio is currently 20.74%.

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.