2,867 Shares in Assurant, Inc. $AIZ Bought by CenterBook Partners LP

CenterBook Partners LP acquired a new stake in Assurant, Inc. (NYSE:AIZ) in the third quarter, Holdings Channel reports. The institutional investor acquired 2,867 shares of the financial services provider’s stock, valued at approximately $755,000.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Assurant in the 2nd quarter worth $1,345,211,000. Bank of New York Mellon Corp bought a new stake in Assurant in the second quarter worth $1,269,591,000. Dimensional Fund Advisors LP boosted its position in Assurant by 22.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider’s stock valued at $245,121,000 after buying an additional 205,767 shares during the period. Bank of America Corp DE purchased a new stake in Assurant during the second quarter valued at about $269,635,000. Finally, First Trust Advisors LP grew its stake in shares of Assurant by 9.2% during the first quarter. First Trust Advisors LP now owns 632,896 shares of the financial services provider’s stock valued at $137,851,000 after buying an additional 53,470 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

AIZ has been the topic of several analyst reports. Zacks Research upgraded Assurant from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 16th. BMO Capital Markets boosted their target price on Assurant from $274.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Truist Financial increased their target price on Assurant from $310.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded Assurant from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. Finally, Piper Sandler raised their price target on Assurant from $329.00 to $356.00 and gave the stock an “overweight” rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. According to MarketBeat, Assurant presently has an average rating of “Buy” and a consensus target price of $341.86.

Assurant Stock Up 1.6%

Shares of NYSE AIZ opened at $322.29 on Wednesday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.37. Assurant, Inc. has a 52 week low of $209.86 and a 52 week high of $322.93. The firm’s fifty day moving average is $281.84 and its 200 day moving average is $257.09. The company has a market cap of $15.81 billion, a price-to-earnings ratio of 13.15 and a beta of 0.52.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $4.75 by $1.40. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.48 billion. Assurant had a net margin of 7.80% and a return on equity of 20.44%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $5.73 EPS. On average, equities research analysts expect that Assurant, Inc. will post 23.22 earnings per share for the current year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, August 31st were given a $0.88 dividend. The ex-dividend date was Monday, August 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Assurant’s payout ratio is presently 16.56%.

Assurant Profile

Assurant, Inc. is a global provider of insurance products and services, with a focus on protecting purchases and supporting housing-related needs. Its operations are organized around Global Housing and Global Lifestyle. Through its housing business, Assurant offers products and services such as renters, manufactured housing, and lender-placed insurance, along with related claims and risk-management solutions. Its lifestyle business provides mobile device protection, extended service contracts, vehicle protection products, and support services for consumers and business partners.