Mayport LLC Cuts Stock Position in Assurant, Inc. (NYSE:AIZ)

Mayport LLC lowered its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,326 shares of the financial services provider's stock after selling 1,500 shares during the quarter. Mayport LLC's holdings in Assurant were worth $1,327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIZ. Smartleaf Asset Management LLC lifted its position in shares of Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock worth $32,000 after purchasing an additional 103 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Assurant by 503.1% in the fourth quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock worth $41,000 after purchasing an additional 161 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Assurant during the 4th quarter worth $44,000. Finally, Ameriflex Group Inc. bought a new stake in Assurant during the 4th quarter valued at $51,000. Hedge funds and other institutional investors own 92.65% of the company's stock.

Insider Buying and Selling

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of Assurant stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $201.93, for a total transaction of $201,930.00. Following the completion of the sale, the executive vice president now directly owns 11,775 shares in the company, valued at approximately $2,377,725.75. The trade was a 7.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.51% of the stock is owned by company insiders.

Assurant Stock Down 0.8%

NYSE:AIZ traded down $1.61 during midday trading on Tuesday, reaching $198.07. 279,530 shares of the stock traded hands, compared to its average volume of 427,922. The stock has a market capitalization of $10.08 billion, a PE ratio of 15.44 and a beta of 0.61. Assurant, Inc. has a 12-month low of $160.12 and a 12-month high of $230.55. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.41 and a current ratio of 0.41. The business has a 50-day moving average of $196.77 and a two-hundred day moving average of $203.86.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.78 by $0.61. Assurant had a return on equity of 15.49% and a net margin of 5.55%. The firm had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter last year, the firm earned $4.78 EPS. The business's quarterly revenue was up 6.7% on a year-over-year basis. On average, equities analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, June 9th. Assurant's payout ratio is currently 24.94%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AIZ shares. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Morgan Stanley set a $217.00 price target on shares of Assurant and gave the company an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective for the company in a research note on Thursday, April 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $228.67.

Assurant 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.