3,958 Shares in Assurant, Inc. $AIZ Acquired by Stevens Capital Management LP

Stevens Capital Management LP purchased a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,958 shares of the financial services provider’s stock, valued at approximately $857,000.

A number of other hedge funds have also modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new position in shares of Assurant during the 3rd quarter valued at $905,000. Syon Capital LLC lifted its position in shares of Assurant by 37.5% in the third quarter. Syon Capital LLC now owns 1,513 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 413 shares in the last quarter. NEOS Investment Management LLC bought a new position in shares of Assurant in the third quarter worth about $210,000. Fifth Third Bancorp grew its position in shares of Assurant by 4.6% during the third quarter. Fifth Third Bancorp now owns 2,160 shares of the financial services provider’s stock worth $468,000 after purchasing an additional 95 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Assurant by 15.1% during the third quarter. JPMorgan Chase & Co. now owns 124,993 shares of the financial services provider’s stock worth $27,076,000 after purchasing an additional 16,388 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.

Assurant Price Performance

Assurant stock opened at $224.42 on Friday. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $246.31. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 13.22 and a beta of 0.56. The firm’s fifty day moving average is $235.12 and its 200 day moving average is $223.08. The company has a quick ratio of 0.40, a current ratio of 0.66 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last announced its earnings results 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 net margin of 6.81% and a return on equity of 18.65%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the prior year, the company earned $4.79 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.52 annualized dividend and a dividend yield of 1.6%. Assurant’s payout ratio is currently 20.74%.

Analyst Ratings Changes

Several research analysts have weighed in on AIZ shares. Morgan Stanley upped their price target on Assurant from $232.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Keefe, Bruyette & Woods upped their target price on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. UBS Group raised their target price on shares of Assurant from $255.00 to $257.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Truist Financial lifted their price target on shares of Assurant from $265.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, BMO Capital Markets dropped their price objective on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.