Raymond James & Associates Boosts Stake in Assurant, Inc. (AIZ)

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Raymond James & Associates lifted its position in Assurant, Inc. (NYSE:AIZ) by 12.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 79,840 shares of the financial services provider’s stock after purchasing an additional 8,973 shares during the quarter. Raymond James & Associates’ holdings in Assurant were worth $7,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AIZ. Strycker View Capital LLC boosted its holdings in shares of Assurant by 279.4% in the 4th quarter. Strycker View Capital LLC now owns 265,580 shares of the financial services provider’s stock worth $23,753,000 after purchasing an additional 195,580 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Assurant during the 3rd quarter valued at about $15,264,000. Renaissance Technologies LLC boosted its holdings in Assurant by 315.8% during the 3rd quarter. Renaissance Technologies LLC now owns 184,200 shares of the financial services provider’s stock valued at $19,884,000 after acquiring an additional 139,900 shares during the period. Vanguard Group Inc boosted its holdings in Assurant by 2.1% during the 3rd quarter. Vanguard Group Inc now owns 5,653,635 shares of the financial services provider’s stock valued at $610,310,000 after acquiring an additional 113,694 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Assurant by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,653,635 shares of the financial services provider’s stock valued at $610,310,000 after acquiring an additional 113,694 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.

Separately, ValuEngine cut Assurant from a “buy” rating to a “hold” rating in a report on Friday, November 30th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Assurant has a consensus rating of “Buy” and a consensus target price of $128.75.

AIZ opened at $101.28 on Thursday. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 17.00 and a beta of 0.65. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.47 and a quick ratio of 0.35. Assurant, Inc. has a one year low of $82.31 and a one year high of $111.43.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 12th. The financial services provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.31. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.25 billion. Assurant had a return on equity of 6.92% and a net margin of 3.06%. Assurant’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 EPS. Equities research analysts forecast that Assurant, Inc. will post 8.54 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Monday, February 25th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, February 22nd. Assurant’s dividend payout ratio is currently 41.38%.

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About Assurant

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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