Assurant, Inc. (NYSE:AIZ) Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC grew its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,843 shares of the financial services provider’s stock after purchasing an additional 98 shares during the period. Tectonic Advisors LLC’s holdings in Assurant were worth $606,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. True Wealth Design LLC acquired a new position in Assurant during the 3rd quarter valued at about $25,000. Huntington National Bank boosted 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 acquiring an additional 163 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Assurant during the third quarter valued at approximately $42,000. Capital Performance Advisors LLP bought a new stake in Assurant during the third quarter worth approximately $56,000. Finally, Richardson Financial Services Inc. lifted its position in Assurant by 42.8% in the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 86 shares during the period. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Stock Up 1.3 %

AIZ stock opened at $214.87 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $11.02 billion, a P/E ratio of 15.33 and a beta of 0.62. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55. The company’s 50 day simple moving average is $214.11 and its 200-day simple moving average is $200.92.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. Assurant’s revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $4.29 earnings per share. As a group, equities research analysts anticipate that Assurant, Inc. will post 15.82 EPS for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.49%. Assurant’s dividend payout ratio (DPR) is presently 22.82%.

Insider Activity

In other news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the transaction, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AIZ shares. Truist Financial boosted their price objective on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. Morgan Stanley started coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price objective for the company. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Bank of America raised their target price on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $229.50.

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.