Inceptionr LLC Invests $778,000 in Assurant, Inc. $AIZ

Inceptionr LLC purchased a new position in shares of Assurant, Inc. (NYSE:AIZ) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 3,590 shares of the financial services provider’s stock, valued at approximately $778,000.

A number of other hedge funds have also added to or reduced their stakes in AIZ. Versant Capital Management Inc raised its position in Assurant by 72.6% during the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Assurant in the 2nd quarter valued at $27,000. Smartleaf Asset Management LLC increased 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 purchasing an additional 59 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Assurant in the 3rd quarter valued at $34,000. Finally, UMB Bank n.a. raised 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 in the last quarter. 92.65% of the stock is owned by institutional investors.

Assurant Trading Down 1.4%

NYSE AIZ opened at $219.76 on Tuesday. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 12.95 and a beta of 0.58. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $246.31. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average is $232.41 and its 200 day moving average is $224.45.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.55 by $0.06. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Assurant had a return on equity of 18.65% and a net margin of 6.81%.The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.79 EPS. As a group, sell-side analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The company 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 currently 20.74%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group upped their price objective on Assurant from $255.00 to $257.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Keefe, Bruyette & Woods lifted their target price on Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Piper Sandler increased their target price on shares of Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Weiss Ratings restated a “buy (b)” rating on shares of Assurant in a research note on Monday, December 29th. Finally, 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 report on Monday, November 17th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Assurant currently has an average 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.