Aquatic Capital Management LLC Cuts Holdings in Assurant, Inc. $AIZ

Aquatic Capital Management LLC lowered its stake in Assurant, Inc. (NYSE:AIZ) by 18.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,365 shares of the financial services provider’s stock after selling 6,180 shares during the period. Aquatic Capital Management LLC owned about 0.05% of Assurant worth $5,927,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Versant Capital Management Inc lifted its stake 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 purchased a new stake in shares of Assurant in the 2nd quarter valued at approximately $27,000. Smartleaf Asset Management LLC increased its position 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 purchasing an additional 59 shares during the last quarter. BOKF NA acquired a new stake in shares of Assurant in the 3rd quarter valued at $32,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Assurant in the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AIZ shares. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Truist Financial lifted 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. BMO Capital Markets lowered their price objective on Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Morgan Stanley increased their price objective on Assurant from $232.00 to $248.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. Finally, Piper Sandler raised their target price on Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research report on Friday, December 19th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and an average price target of $258.17.

Assurant Price Performance

Shares of AIZ opened at $221.89 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. Assurant, Inc. has a 1-year low of $174.97 and a 1-year high of $246.31. The stock has a market cap of $11.03 billion, a PE ratio of 13.08 and a beta of 0.58. The firm has a fifty day moving average price of $230.19 and a 200 day moving average price of $224.55.

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, topping 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 company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the company posted $4.79 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, February 17th. Assurant’s payout ratio is presently 20.74%.

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.