SteelPeak Wealth LLC Takes Position in Assurant, Inc. (NYSE:AIZ)

SteelPeak Wealth LLC acquired a new position in Assurant, Inc. (NYSE:AIZ) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,000 shares of the financial services provider’s stock, valued at approximately $213,000.

Several other large investors have also recently bought and sold shares of the company. Cascade Investment Advisors Inc. lifted its position in Assurant by 0.7% during the 4th quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider’s stock valued at $1,593,000 after purchasing an additional 50 shares during the period. Pacer Advisors Inc. lifted its holdings in Assurant by 45.9% in the fourth quarter. Pacer Advisors Inc. now owns 5,818 shares of the financial services provider’s stock valued at $1,241,000 after buying an additional 1,829 shares during the period. Blue Trust Inc. boosted its stake in Assurant by 28.6% in the fourth quarter. Blue Trust Inc. now owns 845 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 188 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in Assurant during the 4th quarter worth $241,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Assurant by 1.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 29,531 shares of the financial services provider’s stock valued at $6,297,000 after acquiring an additional 305 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Price Performance

NYSE AIZ opened at $215.34 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 15.36 and a beta of 0.62. The business has a 50 day simple moving average of $214.93 and a 200 day simple moving average of $199.62. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm earned $4.29 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. Analysts anticipate that Assurant, Inc. will post 15.82 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s dividend payout ratio is presently 22.82%.

Analysts Set New Price Targets

AIZ has been the topic of several recent research reports. 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 research report on Tuesday, November 12th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Bank of America increased their price target on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Truist Financial boosted their price objective on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley assumed coverage on shares of Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Assurant has an average rating of “Moderate Buy” and an average price target of $229.50.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the sale, the executive vice president now directly owns 20,658 shares in the company, valued at approximately $4,321,240.44. The trade was a 12.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

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.