Assurant, Inc. (NYSE:AIZ) Short Interest Update

Assurant, Inc. (NYSE:AIZ - Get Free Report) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 834,000 shares, an increase of 19.4% from the December 31st total of 698,300 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily volume of 348,000 shares, the days-to-cover ratio is presently 2.4 days.

Assurant Stock Up 1.3 %

AIZ stock traded up $2.67 during mid-day trading on Wednesday, hitting $214.87. 224,414 shares of the company were exchanged, compared to its average volume of 360,788. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. Assurant has a 1-year low of $160.12 and a 1-year high of $230.55. The firm's 50 day simple moving average is $214.11 and its 200 day simple moving average is $200.92. The firm has a market cap of $11.02 billion, a P/E ratio of 15.33 and a beta of 0.62.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.48. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $4.29 earnings per share. On average, sell-side analysts predict that Assurant will post 15.82 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant's payout ratio is 22.82%.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the sale, the executive vice president now directly owns 20,658 shares of the company's stock, valued at $4,321,240.44. This trade represents a 12.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

Hedge Funds Weigh In On Assurant

Hedge funds have recently made changes to their positions in the business. True Wealth Design LLC bought a new position in Assurant in the third quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Assurant during the 4th quarter worth about $28,000. Smartleaf Asset Management LLC grew its holdings in shares of Assurant by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 75 shares in the last quarter. Huntington National Bank increased its position in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 163 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Assurant during the third quarter valued at approximately $42,000. 92.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AIZ shares. Truist Financial boosted their price objective on Assurant from $220.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $194.00 to $212.00 and gave the company a "market perform" rating in a research note on Tuesday, November 12th. Bank of America lifted their target price on shares of Assurant from $228.00 to $233.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. StockNews.com upgraded Assurant from a "hold" rating to a "buy" rating in a research report on Monday, January 27th. Finally, Morgan Stanley began coverage on Assurant in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $251.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.50.

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.