Proficio Capital Partners LLC Makes New Investment in Assurant, Inc. (NYSE:AIZ)

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

A number of other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in Assurant by 21.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,362 shares of the financial services provider's stock valued at $1,072,000 after buying an additional 934 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Assurant by 54.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,450 shares of the financial services provider's stock valued at $885,000 after purchasing an additional 1,570 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Assurant by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 6,044 shares of the financial services provider's stock valued at $1,201,000 after purchasing an additional 405 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Assurant during the third quarter valued at about $240,000. Finally, abrdn plc boosted its stake in shares of Assurant by 149.3% during the third quarter. abrdn plc now owns 28,982 shares of the financial services provider's stock valued at $5,729,000 after purchasing an additional 17,357 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods raised Assurant from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $212.00 to $230.00 in a research note on Thursday, February 20th. Truist Financial lifted their price objective on Assurant from $240.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley assumed coverage on Assurant in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $251.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $234.17.

Assurant Trading Down 0.8 %

AIZ stock traded down $1.61 during mid-day trading on Wednesday, reaching $204.54. The company's stock had a trading volume of 498,622 shares, compared to its average volume of 343,719. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 14.14 and a beta of 0.62. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55. The business's 50 day moving average price is $209.15 and its 200 day moving average price is $205.43. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating the consensus estimate 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 research analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

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

Insider Activity

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.

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.