Envestnet Asset Management Inc. Purchases 10,396 Shares of Assurant, Inc. $AIZ

Envestnet Asset Management Inc. lifted its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,842 shares of the financial services provider’s stock after purchasing an additional 10,396 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.23% of Assurant worth $25,525,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc lifted its stake in shares of 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 buying an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Assurant during the second quarter valued at approximately $27,000. Cullen Frost Bankers Inc. grew its holdings in shares of Assurant by 1,133.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Root Financial Partners LLC bought a new position in Assurant in the 3rd quarter valued at $34,000. Finally, UMB Bank n.a. raised its position in shares of Assurant by 360.0% during the third quarter. UMB Bank n.a. now owns 161 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 126 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

Assurant Stock Down 0.9%

NYSE:AIZ opened at $214.05 on Friday. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $246.31. The stock has a 50-day moving average price of $235.62 and a two-hundred day moving average price of $221.42. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 12.61 and a beta of 0.56. The company has a current ratio of 0.66, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38.

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

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Tuesday, February 17th will be issued 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 is Tuesday, February 17th. Assurant’s dividend payout ratio is 21.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AIZ shares. UBS Group lifted their price objective on Assurant from $255.00 to $257.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Piper Sandler raised their target price on shares of Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a research note on Friday, December 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a research note on Monday, December 29th. Truist Financial raised their price objective on shares of Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.17.

About Assurant

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.