Yousif Capital Management LLC Boosts Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Yousif Capital Management LLC grew its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 49.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,187 shares of the financial services provider's stock after purchasing an additional 3,356 shares during the quarter. Yousif Capital Management LLC's holdings in Assurant were worth $2,137,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AIZ. Savant Capital LLC increased its holdings in shares of Assurant by 5.5% during the 4th quarter. Savant Capital LLC now owns 3,493 shares of the financial services provider's stock valued at $745,000 after purchasing an additional 183 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of Assurant by 10.2% during the 4th quarter. Principal Securities Inc. now owns 5,719 shares of the financial services provider's stock valued at $1,219,000 after purchasing an additional 528 shares in the last quarter. WBH Advisory Inc. purchased a new position in shares of Assurant during the 4th quarter valued at approximately $213,000. CIBC Asset Management Inc increased its holdings in shares of Assurant by 1.1% during the 4th quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider's stock valued at $1,642,000 after purchasing an additional 84 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Assurant by 234.9% in the 4th quarter. Truist Financial Corp now owns 11,995 shares of the financial services provider's stock valued at $2,558,000 after acquiring an additional 8,413 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Assurant Trading Down 0.6%

Shares of AIZ opened at $198.01 on Monday. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The firm's fifty day moving average is $195.89 and its two-hundred day moving average is $205.04. The stock has a market cap of $10.07 billion, a PE ratio of 13.68 and a beta of 0.61.

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 net margin of 6.40% and a return on equity of 17.25%. The company had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter in the previous year, the company posted $4.78 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. Research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, June 9th. This represents a $3.20 annualized dividend and a yield of 1.62%. Assurant's dividend payout ratio (DPR) is presently 24.94%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target 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. Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target on the stock in a research note on Thursday, April 10th. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley set a $217.00 price target on shares of Assurant and gave the company an "equal weight" rating in a research note on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $228.67.

Insiders Place Their Bets

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of Assurant stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $201.93, for a total transaction of $201,930.00. Following the transaction, the executive vice president now directly owns 11,775 shares of the company's stock, valued at $2,377,725.75. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

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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