Assurant, Inc. (NYSE:AIZ) Shares Bought by Ritholtz Wealth Management

Ritholtz Wealth Management raised its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 60.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,049 shares of the financial services provider’s stock after acquiring an additional 1,518 shares during the period. Ritholtz Wealth Management’s holdings in Assurant were worth $863,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Assurant during the third quarter worth $25,000. Huntington National Bank raised its stake in shares of Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Assurant in the 3rd quarter valued at about $42,000. Capital Performance Advisors LLP purchased a new stake in shares of Assurant in the third quarter worth about $56,000. Finally, Intact Investment Management Inc. acquired a new stake in Assurant during the third quarter worth about $72,000. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Trading Down 0.1 %

Shares of Assurant stock opened at $211.39 on Monday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The firm has a market capitalization of $10.84 billion, a PE ratio of 15.08 and a beta of 0.62. The firm’s 50-day moving average price is $215.81 and its 200 day moving average price is $197.04.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company posted $4.29 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts predict that Assurant, Inc. will post 15.38 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Monday, February 3rd. Assurant’s dividend payout ratio (DPR) is 22.82%.

Analysts Set New Price Targets

AIZ has been the topic of several recent research reports. Bank of America upped their price objective on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Truist Financial raised their price target on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Piper Sandler upped their price objective on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, UBS Group upped their price target on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $229.50.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

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.