Longboard Asset Management LP Buys New Shares in Assurant, Inc. (NYSE:AIZ)

Longboard Asset Management LP purchased a new position in shares of Assurant, Inc. (NYSE:AIZ) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,088 shares of the financial services provider’s stock, valued at approximately $232,000.

Several other hedge funds have also recently made changes to their positions in AIZ. FMR LLC boosted its stake in Assurant by 6.0% during the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after acquiring an additional 65,874 shares in the last quarter. Mizuho Securities USA LLC lifted its position in Assurant by 11,480.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after acquiring an additional 460,937 shares in the last quarter. World Investment Advisors LLC bought a new position in shares of Assurant in the third quarter valued at approximately $48,430,000. Barclays PLC boosted its holdings in Assurant by 48.4% during the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock worth $38,243,000 after acquiring an additional 62,696 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Assurant by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider’s stock worth $34,079,000 after acquiring an additional 24,887 shares in the last quarter. 92.65% of the stock is owned by institutional investors.

Assurant Stock Down 1.0 %

Shares of NYSE:AIZ opened at $212.94 on Tuesday. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $214.72 and a two-hundred day simple moving average of $200.33. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 15.19 and a beta of 0.62.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $4.29 earnings per share. On average, research analysts anticipate that Assurant, Inc. will post 15.82 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 1.50%. The ex-dividend date is Monday, February 3rd. Assurant’s dividend payout ratio (DPR) is presently 22.82%.

Analyst Ratings Changes

AIZ has been the subject of a number of research analyst reports. 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 increased their price target on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 12th. Truist Financial lifted their target price on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America increased their target price on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $229.50.

Insider Buying and Selling at Assurant

In other 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 transaction of $627,540.00. Following the transaction, the executive vice president now owns 20,658 shares in the company, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.53% of the company’s stock.

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.