Texas Permanent School Fund increased its holdings in Assurant, Inc. (NYSE:AIZ – Get Rating) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,529 shares of the financial services provider’s stock after acquiring an additional 386 shares during the period. Texas Permanent School Fund’s holdings in Assurant were worth $1,094,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of AIZ. CX Institutional purchased a new stake in shares of Assurant during the 2nd quarter worth about $28,000. Ronald Blue Trust Inc. purchased a new stake in shares of Assurant during the 2nd quarter worth about $31,000. Parkside Financial Bank & Trust raised its stake in shares of Assurant by 353.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 138 shares in the last quarter. Allworth Financial LP raised its stake in shares of Assurant by 83.6% during the 3rd quarter. Allworth Financial LP now owns 224 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 102 shares in the last quarter. Finally, Venture Visionary Partners LLC purchased a new stake in shares of Assurant during the 2nd quarter worth about $35,000. 95.86% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on AIZ. Piper Sandler cut their price target on Assurant from $144.00 to $133.00 and set a “neutral” rating for the company in a research note on Tuesday, December 20th. Truist Financial lowered their price objective on Assurant from $220.00 to $170.00 in a report on Wednesday, October 26th. Morgan Stanley lowered their price objective on Assurant from $215.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, November 21st. Keefe, Bruyette & Woods lowered Assurant from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $199.00 to $151.00 in a report on Thursday, November 3rd. Finally, StockNews.com began coverage on Assurant in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Assurant currently has a consensus rating of “Hold” and an average price target of $154.75.
Assurant Stock Performance
Assurant (NYSE:AIZ – Get Rating) last released its earnings results on Tuesday, November 1st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The firm had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.62 billion. Assurant had a return on equity of 12.00% and a net margin of 3.25%. On average, equities analysts forecast that Assurant, Inc. will post 10.52 earnings per share for the current year.
Assurant Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 19th. Shareholders of record on Monday, November 28th were issued a $0.70 dividend. The ex-dividend date was Friday, November 25th. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. This is a positive change from Assurant’s previous quarterly dividend of $0.68. Assurant’s dividend payout ratio (DPR) is 48.11%.
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.
- Get a free copy of the StockNews.com research report on Assurant (AIZ)
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