Burney Co. Has $487,000 Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Burney Co. reduced its stake in shares of Assurant, Inc. (NYSE:AIZ) by 14.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,285 shares of the financial services provider’s stock after selling 391 shares during the period. Burney Co.’s holdings in Assurant were worth $487,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AIZ. True Wealth Design LLC acquired a new stake in shares of Assurant during the third quarter worth $25,000. Richardson Financial Services Inc. lifted its holdings in shares of Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 77 shares in the last quarter. 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 position in shares of Assurant during the third quarter worth about $42,000. Finally, Capital Performance Advisors LLP bought a new stake in Assurant in the 3rd quarter valued at approximately $56,000. Institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

NYSE:AIZ opened at $211.39 on Friday. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The firm has a market capitalization of $10.84 billion, a price-to-earnings ratio of 15.08 and a beta of 0.62. The stock’s 50 day moving average price is $215.81 and its two-hundred day moving average price is $196.59. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share 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 business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the business earned $4.29 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts anticipate that Assurant, Inc. will post 15.38 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be issued 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 22.82%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AIZ shares. Truist Financial raised their target price 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. Keefe, Bruyette & Woods lifted their target price on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. UBS Group increased their price target on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. Piper Sandler raised their price target on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Assurant presently has an average rating of “Hold” and an average target price of $229.50.

Insider Activity at Assurant

In related news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

Assurant Company 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.