Lecap Asset Management Ltd. Grows Position in Assurant, Inc. (NYSE:AIZ)

Lecap Asset Management Ltd. raised its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 39.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,792 shares of the financial services provider’s stock after purchasing an additional 1,367 shares during the period. Lecap Asset Management Ltd.’s holdings in Assurant were worth $1,022,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. True Wealth Design LLC purchased a new position in Assurant during the third quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Assurant during the 4th quarter valued at $28,000. Huntington National Bank increased its holdings in shares of Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the period. Brooklyn Investment Group bought a new position in shares of Assurant in the 3rd quarter worth $42,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Assurant during the 3rd quarter worth $56,000. Institutional investors own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

AIZ has been the topic of several analyst reports. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Morgan Stanley assumed coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.50.

Assurant Stock Up 0.2 %

AIZ stock opened at $215.22 on Friday. The stock has a market capitalization of $11.04 billion, a PE ratio of 15.35 and a beta of 0.62. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. 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 firm has a 50 day moving average of $213.61 and a 200 day moving average of $201.11.

Assurant (NYSE:AIZ) last posted its quarterly earnings data 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 net margin of 6.31% and a return on equity of 17.42%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $4.29 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that Assurant, Inc. will post 15.82 earnings per share for the current year.

Assurant Announces Dividend

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

About Assurant

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.