Mayport LLC Sells 1,500 Shares of Assurant, Inc. (NYSE:AIZ)

Mayport LLC cut its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,326 shares of the financial services provider's stock after selling 1,500 shares during the period. Mayport LLC's holdings in Assurant were worth $1,327,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AIZ. PNC Financial Services Group Inc. boosted its stake in shares of Assurant by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,773 shares of the financial services provider's stock valued at $1,657,000 after purchasing an additional 100 shares during the period. Atria Wealth Solutions Inc. bought a new stake in Assurant during the 4th quarter valued at $329,000. Yousif Capital Management LLC boosted its position in Assurant by 49.1% during the 1st quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider's stock valued at $2,137,000 after buying an additional 3,356 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Assurant by 35.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider's stock valued at $1,287,000 after buying an additional 1,584 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Assurant by 37.1% in the fourth quarter. Ameriprise Financial Inc. now owns 56,841 shares of the financial services provider's stock valued at $12,120,000 after acquiring an additional 15,377 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Jay Rosenblum sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $201.93, for a total transaction of $201,930.00. Following the completion of the transaction, the executive vice president now owns 11,775 shares of the company's stock, valued at $2,377,725.75. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.51% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Assurant Stock Performance

Shares of AIZ opened at $196.04 on Friday. The company has a 50-day simple moving average of $196.69 and a two-hundred day simple moving average of $204.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.41 and a quick ratio of 0.41. The firm has a market capitalization of $9.97 billion, a PE ratio of 15.28 and a beta of 0.61. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.06 billion. During the same quarter in the prior year, the company earned $4.78 EPS. The business's revenue was up 6.7% compared to the same quarter last year. On average, analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.63%. Assurant's dividend payout ratio (DPR) is currently 24.94%.

About Assurant

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.

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