Financial Architects LLC Invests $2.42 Million in Assurant, Inc. (NYSE:AIZ)

Financial Architects LLC bought a new position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,349 shares of the financial services provider's stock, valued at approximately $2,420,000. Assurant accounts for about 1.6% of Financial Architects LLC's holdings, making the stock its 14th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of AIZ. True Wealth Design LLC bought a new stake in shares of Assurant in the third quarter valued at about $25,000. Huntington National Bank boosted its holdings in Assurant by 509.4% in the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 163 shares during the period. Brooklyn Investment Group acquired a new position in shares of Assurant during the 3rd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in shares of Assurant during the third quarter worth approximately $56,000. Finally, Richardson Financial Services Inc. raised its position in shares of Assurant by 42.8% in the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider's stock valued at $61,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Truist Financial raised their price objective on Assurant from $220.00 to $240.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Morgan Stanley started coverage on Assurant in a research report on Thursday, December 5th. They issued an "equal weight" rating and a $251.00 price target on the stock. StockNews.com upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $194.00 to $212.00 and gave the company a "market perform" rating in a research report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Assurant presently has an average rating of "Moderate Buy" and an average target price of $229.50.

Assurant Price Performance

NYSE AIZ traded up $0.42 during trading on Friday, hitting $215.22. 291,761 shares of the company's stock were exchanged, compared to its average volume of 359,659. The company has a market cap of $11.04 billion, a PE ratio of 15.35 and a beta of 0.62. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The stock's 50 day moving average price is $213.38 and its two-hundred day moving average price is $201.63.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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%.

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.