Mayport LLC Reduces Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Mayport LLC lowered its position in Assurant, Inc. (NYSE:AIZ) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,826 shares of the financial services provider’s stock after selling 1,880 shares during the quarter. Assurant comprises about 0.5% of Mayport LLC’s holdings, making the stock its 27th biggest holding. Mayport LLC’s holdings in Assurant were worth $1,669,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AIZ. True Wealth Design LLC purchased a new position in Assurant during the third quarter worth about $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Assurant during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC boosted its stake in Assurant by 127.1% during the fourth 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. Jones Financial Companies Lllp boosted its stake in Assurant by 219.1% during the fourth quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after buying an additional 103 shares during the period. Finally, Huntington National Bank boosted its stake in Assurant by 509.4% during the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Up 0.8 %

Shares of NYSE:AIZ opened at $209.64 on Tuesday. The firm’s 50 day moving average price is $209.56 and its 200 day moving average price is $205.30. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 14.49 and a beta of 0.62. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week 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.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share 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, equities research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.53%. Assurant’s dividend payout ratio (DPR) is 22.11%.

Insiders Place Their Bets

In other Assurant news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on AIZ shares. Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $212.00 to $230.00 in a research note on Thursday, February 20th. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Truist Financial increased 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. Finally, Morgan Stanley initiated coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average 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.