LMR Partners LLP Acquires New Stake in Assurant, Inc. (AIZ)

LMR Partners LLP acquired a new position in Assurant, Inc. (NYSE:AIZ) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,410 shares of the financial services provider’s stock, valued at approximately $394,000.

Several other hedge funds have also modified their holdings of AIZ. Bremer Trust National Association purchased a new stake in Assurant during the fourth quarter valued at about $42,000. Captrust Financial Advisors raised its position in Assurant by 163.6% during the fourth quarter. Captrust Financial Advisors now owns 543 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 337 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new stake in Assurant during the fourth quarter valued at about $57,000. Doyle Wealth Management purchased a new stake in Assurant during the fourth quarter valued at about $59,000. Finally, Dupont Capital Management Corp purchased a new stake in Assurant during the fourth quarter valued at about $81,000. Institutional investors own 91.32% of the company’s stock.

A number of research firms have weighed in on AIZ. ValuEngine downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. UBS Group lowered their price target on Assurant to $124.00 and set a “buy” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Assurant presently has a consensus rating of “Buy” and a consensus target price of $125.75.

NYSE AIZ opened at $98.73 on Friday. Assurant, Inc. has a twelve month low of $82.31 and a twelve month high of $111.43. The company has a current ratio of 0.47, a quick ratio of 0.35 and a debt-to-equity ratio of 0.39. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 17.02 and a beta of 0.65.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 12th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.31. Assurant had a return on equity of 6.92% and a net margin of 3.06%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, analysts predict that Assurant, Inc. will post 8.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Monday, February 25th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, February 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.43%. Assurant’s dividend payout ratio (DPR) is currently 41.38%.

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About Assurant

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.

Further Reading: Systematic Risk and Investors

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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