Raymond James Financial Services Advisors Inc. Acquires 125 Shares of Assurant, Inc. (NYSE:AIZ)

Raymond James Financial Services Advisors Inc. lifted its holdings in Assurant, Inc. (NYSE:AIZ – Get Rating) by 3.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,044 shares of the financial services provider’s stock after buying an additional 125 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Assurant were worth $587,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. CX Institutional bought a new position in shares of Assurant in the second quarter valued at about $28,000. Ronald Blue Trust Inc. bought a new position in shares of Assurant in the second quarter valued at about $31,000. Parkside Financial Bank & Trust raised its holdings in shares of Assurant by 353.8% in the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after buying an additional 138 shares during the last quarter. Venture Visionary Partners LLC bought a new position in shares of Assurant in the second quarter valued at about $35,000. Finally, Allworth Financial LP raised its holdings in 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 during the last quarter. 95.86% of the stock is owned by institutional investors.

Assurant Price Performance

Assurant stock opened at $128.84 on Wednesday. The firm has a market capitalization of $6.81 billion, a P/E ratio of 22.14, a PEG ratio of 0.83 and a beta of 0.50. Assurant, Inc. has a 1 year low of $119.01 and a 1 year high of $194.12. The business has a 50-day moving average of $126.80 and a 200-day moving average of $144.70. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.52.

Assurant (NYSE:AIZ – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Assurant had a return on equity of 12.00% and a net margin of 3.25%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.62 billion. On average, equities analysts anticipate that Assurant, Inc. will post 10.48 EPS for the current year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Monday, February 27th will be given a $0.70 dividend. The ex-dividend date is Friday, February 24th. This represents a $2.80 annualized dividend and a dividend yield of 2.17%. Assurant’s dividend payout ratio is presently 48.11%.

Analysts Set New Price Targets

AIZ has been the subject of several recent research reports. Piper Sandler dropped their price objective on Assurant from $144.00 to $133.00 and set a “neutral” rating for the company in a report on Tuesday, December 20th. Truist Financial dropped their price objective on Assurant from $220.00 to $170.00 in a report on Wednesday, October 26th. StockNews.com initiated coverage on Assurant in a report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley decreased their target price on Assurant from $215.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, November 21st. Finally, Keefe, Bruyette & Woods lowered Assurant from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $199.00 to $151.00 in a research report on Thursday, November 3rd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $154.75.

Assurant Company Profile

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Assurant, Inc is a global provider of lifestyle and housing solutions that support, protect, and connect major consumer purchases. It operates through the following segments: Global Lifestyle, Global Housing, and Corporate and Other. 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.