Assurant, Inc. (NYSE:AIZ) Short Interest Down 12.5% in February

Assurant, Inc. (NYSE:AIZ - Get Free Report) was the target of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 927,400 shares, a decrease of 12.5% from the January 31st total of 1,060,000 shares. Based on an average trading volume of 393,900 shares, the short-interest ratio is presently 2.4 days. Approximately 1.8% of the shares of the company are sold short.

Assurant Stock Performance

Shares of AIZ stock traded up $0.80 during trading hours on Monday, reaching $205.38. 442,678 shares of the company traded hands, compared to its average volume of 345,503. The firm has a 50-day moving average price of $208.63 and a 200 day moving average price of $205.73. The company has a market cap of $10.43 billion, a P/E ratio of 14.19 and a beta of 0.61. Assurant 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 0.41, a current ratio of 0.43 and a quick ratio of 0.43.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. As a group, sell-side analysts predict that Assurant will post 16.88 earnings per share for the current fiscal year.

Remove Ads

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. Assurant's dividend payout ratio is currently 22.11%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.

Hedge Funds Weigh In On Assurant

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new stake in shares of Assurant during the 3rd quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Assurant during the fourth quarter valued at $28,000. Smartleaf Asset Management LLC lifted its position in Assurant by 127.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 75 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Assurant by 219.1% in the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock worth $32,000 after buying an additional 103 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider's stock worth $39,000 after buying an additional 163 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AIZ has been the subject of a number of research reports. Keefe, Bruyette & Woods upgraded Assurant from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $212.00 to $230.00 in a research report on Thursday, February 20th. Truist Financial increased their price objective on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. StockNews.com downgraded shares of Assurant from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley started coverage on shares of Assurant in a report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 target price for the company. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $234.17.

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.