Steward Partners Investment Advisory LLC Increases Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Steward Partners Investment Advisory LLC lifted its position in Assurant, Inc. (NYSE:AIZ – Get Rating) by 20.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 447 shares of the financial services provider’s stock after buying an additional 77 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Assurant were worth $81,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIZ. Parallel Advisors LLC increased its position in shares of Assurant by 197.2% in the first quarter. Parallel Advisors LLC now owns 211 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 140 shares during the last quarter. Quent Capital LLC bought a new position in shares of Assurant in the fourth quarter worth approximately $55,000. Life Planning Partners Inc purchased a new position in shares of Assurant during the fourth quarter worth approximately $58,000. Dupont Capital Management Corp lifted its holdings in shares of Assurant by 78.6% in the 1st quarter. Dupont Capital Management Corp now owns 409 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 180 shares during the last quarter. Finally, Destiny Wealth Partners LLC lifted its holdings in shares of Assurant by 42.5% in the 1st quarter. Destiny Wealth Partners LLC now owns 540 shares of the financial services provider’s stock worth $98,000 after acquiring an additional 161 shares during the last quarter. 91.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AIZ shares. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Saturday, July 9th. Piper Sandler lowered shares of Assurant from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $205.00 to $185.00 in a report on Friday, June 24th.

Assurant Stock Down 1.7 %

AIZ stock opened at $171.57 on Wednesday. Assurant, Inc. has a fifty-two week low of $144.18 and a fifty-two week high of $194.12. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 0.79 and a beta of 0.53. The business’s 50 day moving average price is $174.11 and its two-hundred day moving average price is $173.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.40 and a current ratio of 0.40.

Assurant (NYSE:AIZ – Get Rating) last announced its earnings results on Tuesday, May 3rd. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.89. Assurant had a return on equity of 11.23% and a net margin of 13.23%. The firm had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the company earned $2.47 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts forecast that Assurant, Inc. will post 12.91 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 20th. Stockholders of record on Tuesday, May 31st were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Friday, May 27th. Assurant’s dividend payout ratio is currently 11.89%.

About Assurant

(Get Rating)

Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.