Raymond James & Associates Raises Stake in Assurant, Inc. (AIZ)

Raymond James & Associates lifted its position in Assurant, Inc. (NYSE:AIZ) by 4.2% in the 4th quarter, HoldingsChannel reports. The fund owned 63,624 shares of the financial services provider’s stock after acquiring an additional 2,574 shares during the period. Raymond James & Associates’ holdings in Assurant were worth $6,416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AIZ. Cerebellum GP LLC bought a new stake in shares of Assurant in the 4th quarter worth approximately $128,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Assurant in the 3rd quarter worth approximately $154,000. Ifrah Financial Services Inc. bought a new stake in shares of Assurant in the 4th quarter worth approximately $204,000. Koch Industries Inc. bought a new stake in shares of Assurant in the 4th quarter worth approximately $206,000. Finally, Stifel Financial Corp bought a new stake in shares of Assurant in the 3rd quarter worth approximately $207,000. Institutional investors own 92.95% of the company’s stock.

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Shares of NYSE AIZ opened at $91.41 on Friday. The company has a market capitalization of $4,796.78, a P/E ratio of 23.20, a P/E/G ratio of 0.60 and a beta of 0.63. Assurant, Inc. has a 12-month low of $84.34 and a 12-month high of $106.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.55 and a current ratio of 0.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.26. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.59 billion. Assurant had a return on equity of 5.24% and a net margin of 8.10%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $0.54 EPS. research analysts forecast that Assurant, Inc. will post 7.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 19th. Investors of record on Monday, February 26th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.45%. The ex-dividend date was Friday, February 23rd. Assurant’s dividend payout ratio (DPR) is 56.28%.

Several analysts recently issued reports on the company. ValuEngine raised Assurant from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th. UBS assumed coverage on Assurant in a report on Friday, March 2nd. They issued a “buy” rating and a $127.00 price target on the stock.

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About Assurant

Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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