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

OLD Mission Capital LLC purchased a new stake in Assurant, Inc. (NYSE:AIZ - Free Report) in the fourth quarter, according to its most recent disclosure 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 hedge funds also recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC acquired a new position in shares of Assurant in the 4th quarter valued at $219,000. Franklin Resources Inc. boosted its stake in Assurant by 12.5% in the fourth quarter. Franklin Resources Inc. now owns 7,558 shares of the financial services provider's stock valued at $1,612,000 after acquiring an additional 841 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Assurant by 48.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 12,831 shares of the financial services provider's stock valued at $2,736,000 after acquiring an additional 4,168 shares in the last quarter. Allstate Corp purchased a new position in shares of Assurant during the fourth quarter worth about $338,000. Finally, denkapparat Operations GmbH acquired a new stake in shares of Assurant during the fourth quarter worth about $282,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Biju Nair sold 3,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the sale, the executive vice president now owns 17,708 shares of the company's stock, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

Several research firms have commented on AIZ. StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods upgraded shares of Assurant from a "market perform" rating to an "outperform" rating and upped their price target for the company from $212.00 to $230.00 in a research report on Thursday, February 20th. Truist Financial raised their price objective on shares of Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, 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 for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $234.17.

Assurant Stock Performance

AIZ traded down $7.47 during trading on Thursday, hitting $203.30. The stock had a trading volume of 577,438 shares, compared to its average volume of 370,142. The firm has a market capitalization of $10.33 billion, a P/E ratio of 14.05 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company's 50-day moving average price is $209.01 and its 200 day moving average price is $207.64.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) 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%. On average, equities research analysts forecast that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, February 3rd were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.57%. Assurant's dividend payout ratio (DPR) is presently 22.11%.

Assurant 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.