Parallel Advisors LLC Raises Stake in Assurant, Inc. (NYSE:AIZ)

Parallel Advisors LLC grew its stake in shares of Assurant, Inc. (NYSE:AIZGet Rating) by 197.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 211 shares of the financial services provider’s stock after purchasing an additional 140 shares during the quarter. Parallel Advisors LLC’s holdings in Assurant were worth $38,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quent Capital LLC purchased a new stake in shares of Assurant during the fourth quarter valued at $55,000. Life Planning Partners Inc purchased a new stake in shares of Assurant during the fourth quarter valued at $58,000. Dupont Capital Management Corp boosted its stake in shares of Assurant by 78.6% during the first quarter. Dupont Capital Management Corp now owns 409 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 180 shares during the period. Destiny Wealth Partners LLC boosted its stake in shares of Assurant by 42.5% during the first quarter. Destiny Wealth Partners LLC now owns 540 shares of the financial services provider’s stock valued at $98,000 after purchasing an additional 161 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Assurant by 8.3% during the first quarter. Fifth Third Bancorp now owns 695 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 53 shares during the period. 91.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AIZ. Morgan Stanley lifted their price objective on Assurant from $197.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, March 28th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Saturday, July 9th. Finally, Piper Sandler downgraded Assurant from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $205.00 to $185.00 in a report on Friday, June 24th.

Assurant Stock Performance

Shares of Assurant stock opened at $169.74 on Friday. The company has a market capitalization of $9.18 billion, a PE ratio of 7.42, a P/E/G ratio of 0.76 and a beta of 0.55. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.40 and a current ratio of 0.40. The company has a 50-day simple moving average of $175.26 and a two-hundred day simple moving average of $172.71. Assurant, Inc. has a one year low of $144.18 and a one year high of $194.12.

Assurant (NYSE:AIZGet Rating) last announced its earnings results on Tuesday, May 3rd. The financial services provider reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.89. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.62 billion. Assurant had a net margin of 13.23% and a return on equity of 11.23%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.47 earnings per share. Research analysts expect that Assurant, Inc. will post 12.88 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Tuesday, May 31st were issued a $0.68 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $2.72 dividend on an annualized basis and a yield of 1.60%. Assurant’s dividend payout ratio is presently 11.89%.

Assurant Company Profile

(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.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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