Deprince Race & Zollo Inc. Acquires 14,864 Shares of Assurant, Inc. $AIZ

Key Points

• Deprince Race & Zollo Inc. increased its stake in Assurant by 14.0%, adding 14,864 shares to hold 120,815 shares valued at roughly $29.10 million (0.24% of the company) at quarter-end.
• Assurant beat quarterly expectations with $5.61 EPS and $3.35B in revenue (up 7.9% YoY) and recently paid a quarterly dividend of $0.88 ($3.52 annual, ~1.6% yield).
• Institutional ownership is high at 92.65%; insiders have sold recently (2,650 shares, ~$558k) while analysts maintain a mixed but overall “Moderate Buy” consensus with an average target of $256.83.

Deprince Race & Zollo Inc. boosted its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 120,815 shares of the financial services provider's stock after acquiring an additional 14,864 shares during the quarter. Deprince Race & Zollo Inc. owned 0.24% of Assurant worth $29,098,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Versant Capital Management Inc lifted its position in shares of Assurant by 72.6% during the 3rd quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider's stock worth $27,000 after buying an additional 53 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Assurant during the 2nd quarter worth approximately $27,000. Smartleaf Asset Management LLC lifted its position 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 worth $32,000 after buying an additional 59 shares in the last quarter. BOKF NA bought a new position in shares of Assurant during the 3rd quarter worth approximately $32,000. Finally, Root Financial Partners LLC bought a new position in shares of Assurant during the 3rd quarter worth approximately $34,000. Institutional investors own 92.65% of the company's stock.

Assurant Trading Up 0.1%

NYSE:AIZ opened at $219.52 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $10.91 billion, a PE ratio of 12.94 and a beta of 0.56. The firm's 50 day moving average is $222.87 and its 200 day moving average is $225.24. Assurant, Inc. has a 12 month low of $181.75 and a 12 month high of $246.31.

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

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Tuesday, February 17th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, February 17th. Assurant's payout ratio is 20.74%.

Insider Buying and Selling

In related news, EVP Subhashish Sengupta sold 1,880 shares of Assurant stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $210.53, for a total value of $395,796.40. Following the sale, the executive vice president owned 2,895 shares of the company's stock, valued at approximately $609,484.35. The trade was a 39.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 750 shares of Assurant stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the completion of the sale, the chief accounting officer directly owned 4,741 shares in the company, valued at $1,000,256.18. This trade represents a 13.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,650 shares of company stock worth $558,331 in the last ninety days. 0.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AIZ has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on shares of Assurant from $248.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Monday, April 6th. BMO Capital Markets dropped their target price on shares of Assurant from $255.00 to $246.00 and set an "outperform" rating on the stock in a research report on Thursday, February 12th. Truist Financial lifted their target price on shares of Assurant from $265.00 to $280.00 and gave the stock a "buy" rating in a research report on Thursday, February 12th. Wall Street Zen cut shares of Assurant from a "buy" rating to a "hold" rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Assurant in a research report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Assurant presently has an average rating of "Moderate Buy" and an average target price of $256.83.

Assurant Company Profile

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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