Assurant, Inc. (NYSE:AIZ) Short Interest Update

Assurant, Inc. (NYSE:AIZGet Free Report) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 505,700 shares, a decrease of 29.4% from the January 15th total of 716,600 shares. Based on an average daily volume of 410,500 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.0% of the company’s shares are sold short.

Assurant Stock Performance

NYSE:AIZ opened at $171.89 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.62 and a quick ratio of 0.42. The firm has a 50-day moving average of $168.04 and a two-hundred day moving average of $155.23. The stock has a market cap of $9.04 billion, a P/E ratio of 14.35, a PEG ratio of 2.15 and a beta of 0.49. Assurant has a 1-year low of $104.49 and a 1-year high of $179.41.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, February 5th will be given a $0.72 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $2.88 dividend on an annualized basis and a yield of 1.68%. Assurant’s payout ratio is currently 24.04%.

Assurant declared that its board has authorized a share repurchase plan on Thursday, November 9th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 7.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Truist Financial upped their price objective on Assurant from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. UBS Group increased their price target on Assurant from $191.00 to $205.00 and gave the company a “buy” rating in a report on Monday. Keefe, Bruyette & Woods downgraded Assurant from an “outperform” rating to a “market perform” rating and increased their price target for the company from $170.00 to $182.00 in a report on Monday. Finally, Piper Sandler increased their price target on Assurant from $185.00 to $192.00 and gave the company an “overweight” rating in a report on Wednesday, January 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and a consensus price target of $189.60.

Check Out Our Latest Report on Assurant

Insiders Place Their Bets

In other Assurant news, CAO Dimitry Dirienzo sold 850 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $160.72, for a total transaction of $136,612.00. Following the transaction, the chief accounting officer now owns 4,654 shares of the company’s stock, valued at approximately $747,990.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Jay Rosenblum sold 2,000 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $162.16, for a total transaction of $324,320.00. Following the completion of the sale, the executive vice president now directly owns 7,567 shares in the company, valued at approximately $1,227,064.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dimitry Dirienzo sold 850 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $160.72, for a total value of $136,612.00. Following the sale, the chief accounting officer now owns 4,654 shares of the company’s stock, valued at $747,990.88. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Assurant

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BKM Wealth Management LLC bought a new position in shares of Assurant during the fourth quarter worth about $25,000. Harvest Fund Management Co. Ltd lifted its position in shares of Assurant by 104.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 91 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Assurant by 353.8% during the first 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 during the last quarter. Covestor Ltd lifted its position in shares of Assurant by 229.9% during the second quarter. Covestor Ltd now owns 254 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 177 shares during the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in shares of Assurant during the second quarter worth about $32,000. 93.13% of the stock is owned by hedge funds and other institutional investors.

Assurant Company Profile

(Get Free Report)

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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.

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