McGlone Suttner Wealth Management Inc. Takes $40,000 Position in Assurant, Inc. (NYSE:AIZ)

McGlone Suttner Wealth Management Inc. bought a new stake in shares of Assurant, Inc. (NYSE:AIZFree Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 236 shares of the financial services provider’s stock, valued at approximately $40,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIZ. Norges Bank bought a new position in shares of Assurant during the 4th quarter valued at approximately $74,321,000. Bank of New York Mellon Corp lifted its position in Assurant by 21.5% in the third quarter. Bank of New York Mellon Corp now owns 3,238,477 shares of the financial services provider’s stock worth $464,981,000 after buying an additional 573,309 shares during the last quarter. Invesco Ltd. lifted its position in Assurant by 53.7% in the first quarter. Invesco Ltd. now owns 1,622,996 shares of the financial services provider’s stock worth $295,111,000 after buying an additional 566,763 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Assurant by 4.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,694,084 shares of the financial services provider’s stock worth $712,103,000 after buying an additional 237,239 shares during the last quarter. Finally, Morgan Stanley lifted its position in Assurant by 33.5% in the fourth quarter. Morgan Stanley now owns 906,647 shares of the financial services provider’s stock worth $113,385,000 after buying an additional 227,315 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

Assurant Stock Performance

Shares of Assurant stock opened at $188.24 on Friday. The firm has a market cap of $9.78 billion, a P/E ratio of 15.71, a P/E/G ratio of 2.28 and a beta of 0.50. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. Assurant, Inc. has a 12 month low of $115.41 and a 12 month high of $189.48. The stock’s fifty day moving average price is $176.42 and its 200-day moving average price is $164.48.

Assurant (NYSE:AIZGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $4.58 EPS for the quarter, beating the consensus estimate of $3.70 by $0.88. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $2.78 billion. Assurant had a return on equity of 18.36% and a net margin of 5.77%. On average, equities research analysts expect that Assurant, Inc. will post 16.02 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, February 5th were paid a $0.72 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $2.88 annualized dividend and a yield of 1.53%. Assurant’s dividend payout ratio (DPR) is presently 24.04%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AIZ. UBS Group raised their price target on Assurant from $191.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods downgraded Assurant from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $170.00 to $182.00 in a research report on Monday, February 12th. Finally, Piper Sandler raised their price target on Assurant from $185.00 to $192.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 17th. One equities 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, the stock has an average rating of “Moderate Buy” and an average target price of $189.60.

Check Out Our Latest Stock Report on AIZ

About Assurant

(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 contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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