OLD Mission Capital LLC Invests $5.03 Million in Assurant, Inc. (NYSE:AIZ)

OLD Mission Capital LLC purchased a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 23,585 shares of the financial services provider’s stock, valued at approximately $5,029,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Assurant by 36.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider’s stock worth $708,016,000 after purchasing an additional 891,292 shares during the last quarter. Norges Bank bought a new position in Assurant during the 4th quarter valued at about $143,475,000. World Investment Advisors LLC purchased a new stake in shares of Assurant during the 3rd quarter valued at about $48,430,000. Point72 Asset Management L.P. bought a new stake in shares of Assurant in the third quarter worth approximately $26,630,000. Finally, Amundi grew its stake in shares of Assurant by 45.0% in the fourth quarter. Amundi now owns 281,199 shares of the financial services provider’s stock worth $57,764,000 after acquiring an additional 87,323 shares during the period. Institutional investors own 92.65% of the company’s stock.

Assurant Trading Up 1.8 %

NYSE:AIZ opened at $209.96 on Tuesday. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The business has a fifty day moving average price of $208.90 and a 200-day moving average price of $207.48. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 14.51 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Sell-side analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, February 3rd were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Monday, February 3rd. Assurant’s payout ratio is 22.11%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the sale, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at $3,568,162. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AIZ shares. Morgan Stanley initiated coverage on shares of Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 target price on the stock. Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $212.00 to $230.00 in a report on Thursday, February 20th. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Truist Financial raised their target price on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Assurant currently has an average rating of “Moderate Buy” and an average target price of $234.17.

Assurant Company 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.