Burney Co. Sells 391 Shares of Assurant, Inc. (NYSE:AIZ)

Burney Co. cut its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 14.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,285 shares of the financial services provider’s stock after selling 391 shares during the quarter. Burney Co.’s holdings in Assurant were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. True Wealth Design LLC acquired a new stake in Assurant during the third quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its position in shares of Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 77 shares during the period. Huntington National Bank grew its holdings in shares of Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 163 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Assurant in the third quarter worth $42,000. Finally, Capital Performance Advisors LLP acquired a new position in Assurant in the third quarter valued at about $56,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on AIZ. Piper Sandler raised their target price on shares of Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. 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 research report on Thursday, November 7th. Bank of America raised their target price on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods boosted 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. Finally, StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $229.50.

Assurant Trading Down 0.1 %

NYSE AIZ opened at $211.39 on Friday. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 15.08 and a beta of 0.62. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average is $215.81 and its 200 day moving average is $196.59.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating 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. During the same period last year, the firm posted $4.29 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts expect that Assurant, Inc. will post 15.38 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, February 3rd. Assurant’s payout ratio is currently 22.82%.

Insider Transactions at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.53% of the stock is owned by company insiders.

Assurant Profile

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.