Assurant, Inc. $AIZ Shares Sold by Kennedy Capital Management LLC

Key Points

• Kennedy Capital Management cut its stake in Assurant by 6.8%, selling 6,579 shares and now holding 90,279 shares (about 0.18% of the company) valued at roughly $19.56 million; overall institutional investors own 92.65% of the stock.
• Assurant beat the latest quarter's estimates with $5.61 EPS versus $5.55 expected and revenue of $3.35 billion (vs. $3.28B), while reporting a return on equity of 18.65% and a net margin of 6.81%.
• The firm announced a quarterly dividend of $0.88 (annualized $3.52, 1.6% yield) with an ex-dividend date of Feb 17, and analysts maintain a "Moderate Buy" consensus with an average price target of $258.17 (range examples: Truist $280, Morgan Stanley $248, BMO $246).

Kennedy Capital Management LLC reduced its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,279 shares of the financial services provider's stock after selling 6,579 shares during the period. Kennedy Capital Management LLC owned about 0.18% of Assurant worth $19,555,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AIZ. Versant Capital Management Inc boosted its holdings in Assurant by 72.6% in 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 position in shares of Assurant during the 2nd quarter valued at about $27,000. Smartleaf Asset Management LLC raised its stake 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 during the last quarter. BOKF NA acquired a new position in shares of Assurant in the 3rd quarter valued at about $32,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Assurant in the third quarter worth about $34,000. Hedge funds and other institutional investors own 92.65% of the company's stock.

Assurant Price Performance

Shares of Assurant stock traded up $2.50 on Friday, reaching $217.80. The company's stock had a trading volume of 13,853 shares, compared to its average volume of 403,250. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $10.82 billion, a P/E ratio of 12.83 and a beta of 0.58. The stock has a 50-day moving average price of $230.94 and a 200-day moving average price of $224.36. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $246.31.

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

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be given a $0.88 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $3.52 annualized dividend and a dividend yield of 1.6%. Assurant's dividend payout ratio (DPR) is 20.74%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AIZ. Truist Financial lifted their price target on Assurant from $265.00 to $280.00 and gave the company 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 report on Saturday, February 14th. Morgan Stanley boosted their target price on shares of Assurant from $232.00 to $248.00 and gave the company an "equal weight" rating in a research note on Monday, November 17th. Weiss Ratings restated a "buy (b)" rating on shares of Assurant in a research report on Monday, December 29th. Finally, BMO Capital Markets cut their price objective on shares of Assurant from $255.00 to $246.00 and set an "outperform" rating for the company in a report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $258.17.

About Assurant

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.

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