Hillsdale Investment Management Inc. Invests $905,000 in Assurant, Inc. $AIZ

Hillsdale Investment Management Inc. bought a new position in shares of Assurant, Inc. (NYSE:AIZ) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,180 shares of the financial services provider’s stock, valued at approximately $905,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in Assurant by 606.7% during the 1st quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider’s stock worth $222,000 after acquiring an additional 910 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Assurant by 19.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider’s stock valued at $60,987,000 after purchasing an additional 47,548 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Assurant during the 1st quarter valued at about $203,000. Focus Partners Wealth grew its stake in Assurant by 66.6% during the first quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider’s stock worth $556,000 after purchasing an additional 1,059 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AIZ. Keefe, Bruyette & Woods increased their price target on Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Wall Street Zen lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. BMO Capital Markets cut their target price on shares of Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Truist Financial raised their price target on shares of Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, UBS Group lifted their price target 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. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and an average price target of $258.17.

Assurant Stock Performance

AIZ opened at $217.97 on Tuesday. 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’s fifty day moving average price is $234.82 and its two-hundred day moving average price is $223.29. Assurant, Inc. has a 1-year low of $174.97 and a 1-year high of $246.31. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 12.84 and a beta of 0.56.

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 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 business’s 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. On average, analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be paid a $0.88 dividend. 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 dividend payout ratio is 20.74%.

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.