Assurant, Inc. $AIZ Position Trimmed by Barclays PLC

Barclays PLC trimmed its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 35.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 186,510 shares of the financial services provider’s stock after selling 101,561 shares during the period. Barclays PLC owned 0.37% of Assurant worth $40,398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc lifted its holdings in Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant in the 2nd quarter worth approximately $27,000. Smartleaf Asset Management LLC boosted its position in Assurant by 65.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 59 shares during the period. Root Financial Partners LLC bought a new position in Assurant during the 3rd quarter worth $34,000. Finally, UMB Bank n.a. grew its stake in Assurant by 360.0% during the 3rd quarter. UMB Bank n.a. now owns 161 shares of the financial services provider’s stock worth $35,000 after buying an additional 126 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Stock Down 0.0%

Assurant stock opened at $219.66 on Wednesday. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $246.31. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 12.94 and a beta of 0.58. The company’s 50-day moving average price is $231.95 and its two-hundred day moving average price is $224.48. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.55 by $0.06. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the business posted $4.79 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, February 17th. Assurant’s dividend payout ratio (DPR) is presently 20.74%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen cut Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. BMO Capital Markets lowered their price target on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Truist Financial increased their price objective on shares of Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Finally, Piper Sandler upped their target price on shares of Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.17.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.