UBS Group AG Has $8.51 Million Stake in Assurant, Inc. (NYSE:AIZ)

UBS Group AG raised its position in Assurant, Inc. (NYSE:AIZ – Get Rating) by 116.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,068 shares of the financial services provider’s stock after purchasing an additional 36,641 shares during the quarter. UBS Group AG owned 0.13% of Assurant worth $8,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AIZ. Great West Life Assurance Co. Can boosted its stake in shares of Assurant by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 20,947 shares of the financial services provider’s stock valued at $3,985,000 after buying an additional 64 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Assurant by 2.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,647 shares of the financial services provider’s stock valued at $456,000 after buying an additional 98 shares during the period. Tobias Financial Advisors Inc. boosted its stake in shares of Assurant by 3.3% in the third quarter. Tobias Financial Advisors Inc. now owns 3,136 shares of the financial services provider’s stock valued at $456,000 after buying an additional 100 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Assurant by 2.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 3,713 shares of the financial services provider’s stock valued at $464,000 after buying an additional 100 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Assurant by 3.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,044 shares of the financial services provider’s stock valued at $587,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 95.86% of the company’s stock.

Wall Street Analysts Forecast Growth

AIZ has been the subject of several recent research reports. Piper Sandler cut their price target on Assurant from $133.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, April 5th. Bank of America boosted their price objective on shares of Assurant from $160.00 to $164.00 in a research report on Wednesday, May 3rd. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Tuesday. Keefe, Bruyette & Woods upgraded shares of Assurant from a “market perform” rating to an “outperform” rating and set a $52.00 price objective for the company in a research report on Tuesday, March 21st. Finally, TheStreet upgraded shares of Assurant from a “c+” rating to a “b” rating in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Assurant currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.00.

Assurant Stock Up 0.1 %

Shares of NYSE:AIZ opened at $129.36 on Wednesday. The company has a fifty day moving average of $120.54 and a 200-day moving average of $124.94. The company has a market capitalization of $6.88 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 0.80 and a beta of 0.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.41 and a current ratio of 0.41. Assurant, Inc. has a 52-week low of $104.49 and a 52-week high of $185.97.

Assurant (NYSE:AIZ – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $1.17. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.60 billion. Assurant had a net margin of 2.33% and a return on equity of 13.47%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.75 earnings per share. On average, equities analysts predict that Assurant, Inc. will post 13.91 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, May 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.16%. Assurant’s dividend payout ratio (DPR) is presently 62.50%.

Assurant Profile

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Assurant, Inc engages in the provision of lifestyle and housing solutions of consumer purchases. It operates through Global Lifestyle and Global Housing segments. 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.