Elo Mutual Pension Insurance Co Takes Position in Assurant, Inc. $AIZ

Elo Mutual Pension Insurance Co bought a new stake in Assurant, Inc. (NYSE:AIZ) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,909 shares of the financial services provider’s stock, valued at approximately $2,579,000.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc lifted 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 during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Assurant during the 2nd quarter valued at about $27,000. Smartleaf Asset Management LLC raised its position in shares of Assurant by 65.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock valued at $32,000 after buying an additional 59 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Assurant in the 3rd quarter valued at about $34,000. Finally, UMB Bank n.a. grew its position in Assurant by 360.0% in the third quarter. UMB Bank n.a. now owns 161 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Down 0.3%

Shares of AIZ opened at $232.85 on Wednesday. The firm has a fifty day moving average price of $233.67 and a 200-day moving average price of $224.10. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $11.57 billion, a P/E ratio of 13.72 and a beta of 0.58. Assurant, Inc. has a 12-month low of $174.97 and a 12-month high of $246.31.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 10th. The financial services provider reported $5.61 earnings per share for the quarter, beating analysts’ consensus estimates of $5.55 by $0.06. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.28 billion. Assurant had a net margin of 6.81% and a return on equity of 18.65%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the business posted $4.79 EPS. Equities research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Tuesday, February 17th will be issued a $0.88 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.5%. Assurant’s payout ratio is presently 20.74%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIZ. UBS Group upped their price objective on Assurant from $255.00 to $257.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Morgan Stanley boosted their target price on Assurant from $232.00 to $248.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Truist Financial raised their price target on Assurant from $265.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Wall Street Zen lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Assurant from $248.00 to $254.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.17.

Assurant 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.