Proficio Capital Partners LLC Acquires Shares of 58,108 Assurant, Inc. (NYSE:AIZ)

Proficio Capital Partners LLC acquired a new position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,108 shares of the financial services provider's stock, valued at approximately $12,390,000. Proficio Capital Partners LLC owned about 0.11% of Assurant as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. True Wealth Design LLC bought a new stake in Assurant during the 3rd quarter worth approximately $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Assurant during the fourth quarter worth $28,000. Smartleaf Asset Management LLC grew its stake in shares of Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock worth $28,000 after purchasing an additional 75 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Assurant by 219.1% in the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 103 shares during the period. Finally, Huntington National Bank raised its position in Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider's stock worth $39,000 after purchasing an additional 163 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Stock Up 0.5 %

NYSE:AIZ traded up $1.16 during trading hours on Wednesday, reaching $213.76. The company had a trading volume of 168,836 shares, compared to its average volume of 345,130. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 14.77 and a beta of 0.61. The business's 50-day simple moving average is $208.19 and its two-hundred day simple moving average is $206.43.

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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 return on equity of 17.25% and a net margin of 6.40%. On average, equities analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a yield of 1.50%. Assurant's dividend payout ratio (DPR) is presently 22.11%.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of equities research analysts have commented on AIZ shares. Truist Financial upped their price target on Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. StockNews.com downgraded shares of 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 boosted their price target for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. Finally, Morgan Stanley started coverage on shares of Assurant in a research report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $234.17.

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.