Calamos Advisors LLC Has $25.49 Million Holdings in Assurant, Inc. $AIZ

Calamos Advisors LLC cut its holdings in Assurant, Inc. (NYSE:AIZ) by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,812 shares of the financial services provider’s stock after selling 2,668 shares during the quarter. Calamos Advisors LLC owned approximately 0.21% of Assurant worth $25,485,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AIZ. Bank of New York Mellon Corp boosted its stake in Assurant by 23.7% in the third quarter. Bank of New York Mellon Corp now owns 5,010,373 shares of the financial services provider’s stock valued at $1,085,247,000 after buying an additional 959,259 shares in the last quarter. Nordea Investment Management AB boosted its stake in Assurant by 29.3% in the third quarter. Nordea Investment Management AB now owns 665,683 shares of the financial services provider’s stock valued at $143,588,000 after buying an additional 150,907 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Assurant by 205.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 216,440 shares of the financial services provider’s stock valued at $42,745,000 after buying an additional 145,600 shares in the last quarter. Worldquant Millennium Advisors LLC boosted its stake in Assurant by 2,977.4% in the second quarter. Worldquant Millennium Advisors LLC now owns 129,219 shares of the financial services provider’s stock valued at $25,519,000 after buying an additional 125,020 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Assurant by 15.1% in the third quarter. Dimensional Fund Advisors LP now owns 862,500 shares of the financial services provider’s stock valued at $186,808,000 after buying an additional 113,235 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Assurant

In other news, CAO Dimitry Dirienzo sold 750 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the completion of the transaction, the chief accounting officer directly owned 4,741 shares in the company, valued at $1,000,256.18. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Subhashish Sengupta sold 1,880 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $210.53, for a total value of $395,796.40. Following the transaction, the executive vice president owned 2,895 shares of the company’s stock, valued at $609,484.35. This trade represents a 39.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,650 shares of company stock valued at $558,331 over the last 90 days. 0.51% of the stock is owned by corporate insiders.

Assurant Price Performance

Assurant stock opened at $229.69 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $11.42 billion, a PE ratio of 13.53 and a beta of 0.56. Assurant, Inc. has a 12 month low of $183.39 and a 12 month high of $246.31. The stock has a 50-day moving average price of $221.59 and a two-hundred day moving average price of $225.75.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, February 10th. The financial services provider reported $5.61 EPS for the quarter, beating the consensus estimate of $5.55 by $0.06. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.28 billion. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $4.79 earnings per share. Analysts expect that Assurant, Inc. will post 20.75 EPS for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, February 17th. Assurant’s dividend payout ratio (DPR) is 20.74%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley reduced their price objective on Assurant from $248.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Truist Financial increased their target price on Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. BMO Capital Markets dropped their target price on Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Finally, Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and a consensus target price of $256.83.

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.