Pathstone Holdings LLC Buys 52 Shares of Assurant, Inc. (NYSE:AIZ)

Pathstone Holdings LLC grew its stake in Assurant, Inc. (NYSE:AIZ) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,087 shares of the financial services provider’s stock after acquiring an additional 52 shares during the period. Pathstone Holdings LLC’s holdings in Assurant were worth $2,006,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Quest Partners LLC raised its position in Assurant by 369.6% in the 3rd quarter. Quest Partners LLC now owns 4,452 shares of the financial services provider’s stock worth $885,000 after purchasing an additional 3,504 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Assurant by 10.6% during the third quarter. Natixis Advisors LLC now owns 15,253 shares of the financial services provider’s stock worth $3,033,000 after acquiring an additional 1,456 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in shares of Assurant by 11,480.4% during the third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after acquiring an additional 460,937 shares during the period. CIBC Asset Management Inc boosted its holdings in Assurant by 6.5% in the third quarter. CIBC Asset Management Inc now owns 7,615 shares of the financial services provider’s stock valued at $1,514,000 after acquiring an additional 466 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in Assurant by 6.2% in the third quarter. Metis Global Partners LLC now owns 3,595 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 211 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the sale, the executive vice president now directly owns 20,658 shares in the company, valued at $4,321,240.44. The trade was a 12.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AIZ shares. Bank of America upped their target price on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group increased their price objective on shares of Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Truist Financial lifted their target price on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Piper Sandler upped their price target on Assurant from $200.00 to $217.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

Assurant Stock Performance

Shares of Assurant stock opened at $228.62 on Wednesday. The stock’s fifty day simple moving average is $201.48 and its 200 day simple moving average is $185.14. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $11.73 billion, a PE ratio of 16.31 and a beta of 0.57. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the firm posted $4.29 earnings per share. Assurant’s revenue was up 7.0% compared to the same quarter last year. On average, research analysts predict that Assurant, Inc. will post 15.41 EPS for the current year.

Assurant Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $3.20 dividend on an annualized basis and a yield of 1.40%. This is a positive change from Assurant’s previous quarterly dividend of $0.72. Assurant’s payout ratio is presently 22.82%.

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.