By otakuyassine3@gmail.com 
Assurant, Inc. (NYSE:AIZ – Get Free Report) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 834,000 shares, a growth of 19.4% from the December 31st total of 698,300 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily volume of 348,000 shares, the days-to-cover ratio is presently 2.4 days.
Assurant Stock Performance
NYSE AIZ traded down $3.33 on Friday, hitting $215.34. 1,279,542 shares of the company’s stock were exchanged, compared to its average volume of 282,142. The firm has a market cap of $11.04 billion, a price-to-earnings ratio of 15.36 and a beta of 0.62. The firm’s 50-day moving average price is $214.72 and its two-hundred day moving average price is $200.13. Assurant has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42.
Assurant (NYSE:AIZ – Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Assurant’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.29 earnings per share. On average, research analysts expect that Assurant will post 15.82 EPS for the current year.
Assurant Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given a dividend of $0.80 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.49%. Assurant’s payout ratio is currently 22.82%.
Analyst Upgrades and Downgrades
AIZ has been the subject of several research analyst reports. Truist Financial increased their price objective on Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Morgan Stanley initiated coverage on shares of Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price objective on the stock. Keefe, Bruyette & Woods raised their price target on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. StockNews.com raised Assurant from a “hold” rating to a “buy” rating in a research note on Monday, January 27th. Finally, Bank of America lifted their target price on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Assurant has an average rating of “Moderate Buy” and an average price target of $229.50.
Check Out Our Latest Report on Assurant
Insider Activity at Assurant
In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. The trade was a 12.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC purchased a new stake in shares of Assurant in the 3rd quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Assurant during the fourth quarter worth about $28,000. Huntington National Bank lifted its holdings in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 163 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Assurant in the third quarter valued at approximately $42,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Assurant during the 3rd quarter worth approximately $56,000. 92.65% of the stock is owned by hedge funds and other institutional investors.
About Assurant
Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.
Further Reading
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