Assurant, Inc. (NYSE:AIZ) Short Interest Update

Assurant, Inc. (NYSE:AIZ) was the target of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 927,400 shares, a decline of 12.5% from the January 31st total of 1,060,000 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average trading volume of 393,900 shares, the short-interest ratio is currently 2.4 days.

Insider Transactions at Assurant

In other news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

Institutional Investors Weigh In On Assurant

Several hedge funds have recently modified their holdings of AIZ. True Wealth Design LLC acquired a new position in Assurant in the 3rd quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Assurant in the fourth quarter valued at approximately $28,000. Smartleaf Asset Management LLC raised its stake in shares of Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after buying an additional 75 shares during the period. Jones Financial Companies Lllp lifted its position in shares of Assurant by 219.1% during the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after buying an additional 103 shares in the last quarter. Finally, Huntington National Bank grew its stake in Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 163 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Stock Up 1.8 %

Shares of AIZ opened at $204.94 on Friday. The stock’s 50-day moving average price is $208.63 and its 200-day moving average price is $205.51. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 14.16 and a beta of 0.61. Assurant 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, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. On average, sell-side analysts predict that Assurant will post 16.88 EPS for the current year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.56%. Assurant’s payout ratio is 22.11%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AIZ. Morgan Stanley assumed coverage on Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target for the company. Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $212.00 to $230.00 in a report on Thursday, February 20th. Truist Financial increased their price target on shares of Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Assurant currently has an average rating of “Moderate Buy” and a consensus price target of $234.17.

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.