Raymond James Financial Inc. Takes Position in Assurant, Inc. (NYSE:AIZ)

Raymond James Financial Inc. purchased a new stake in Assurant, Inc. (NYSE:AIZ - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,869 shares of the financial services provider's stock, valued at approximately $3,810,000.

Other large investors have also recently bought and sold shares of the company. Cascade Investment Advisors Inc. grew its position in shares of Assurant by 0.7% in the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider's stock valued at $1,593,000 after purchasing an additional 50 shares during the last quarter. Pathstone Holdings LLC grew its holdings in Assurant by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider's stock valued at $2,006,000 after buying an additional 52 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock worth $28,000 after buying an additional 75 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Assurant by 1.1% during the fourth quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider's stock worth $1,642,000 after buying an additional 84 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted 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 acquiring an additional 86 shares during the period. 92.65% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Truist Financial raised their price target 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. Morgan Stanley began coverage on shares of Assurant in a report on Thursday, December 5th. They set an "equal weight" rating and a $251.00 target price on the stock. Keefe, Bruyette & Woods upgraded Assurant from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $212.00 to $230.00 in a research note on Thursday, February 20th. Finally, StockNews.com lowered Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. 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, Assurant currently has an average rating of "Moderate Buy" and a consensus target price of $234.17.

Assurant Price Performance

Shares of Assurant stock traded down $5.37 on Friday, reaching $206.15. 384,854 shares of the stock were exchanged, compared to its average volume of 368,798. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $10.47 billion, a PE ratio of 14.25 and a beta of 0.61. The firm's 50 day moving average is $208.93 and its 200-day moving average is $207.35. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last announced 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 net margin of 6.40% and a return on equity of 17.25%. As a group, analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm 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 1.55%. The ex-dividend date is Monday, February 3rd. Assurant's dividend payout ratio (DPR) is presently 22.11%.

Insider Buying and Selling at Assurant

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

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.