Dimensional Fund Advisors LP Boosts Position in Assurant, Inc. $AIZ

Dimensional Fund Advisors LP increased its position in shares of Assurant, Inc. (NYSE:AIZ) by 15.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 862,500 shares of the financial services provider’s stock after acquiring an additional 113,235 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.72% of Assurant worth $186,808,000 as of its most recent filing with the Securities and Exchange Commission.

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

Assurant Stock Performance

Shares of AIZ stock opened at $222.95 on Monday. The firm’s 50 day moving average price is $232.84 and its 200-day moving average price is $224.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. Assurant, Inc. has a one year low of $174.97 and a one year high of $246.31. The firm has a market cap of $11.08 billion, a P/E ratio of 13.14 and a beta of 0.58.

Assurant (NYSE:AIZ) last posted its quarterly earnings data 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. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $4.79 EPS. As a group, equities research analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AIZ shares. Morgan Stanley lifted their price target on shares of Assurant from $232.00 to $248.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Assurant in a research note on Monday, December 29th. Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. BMO Capital Markets decreased their price target on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Finally, Truist Financial increased their price target on Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and an average price target 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.