Merit Financial Group LLC Makes New Investment in Assurant, Inc. (NYSE:AIZ)

Merit Financial Group LLC purchased a new stake in Assurant, Inc. (NYSE:AIZ) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,192 shares of the financial services provider’s stock, valued at approximately $254,000.

Several other large investors have also recently made changes to their positions in AIZ. FMR LLC grew its stake in Assurant by 6.0% in the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock valued at $231,392,000 after purchasing an additional 65,874 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Assurant by 11,480.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after buying an additional 460,937 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Assurant in the 3rd quarter worth approximately $48,430,000. Barclays PLC raised its stake in shares of Assurant by 48.4% during the 3rd quarter. Barclays PLC now owns 192,310 shares of the financial services provider’s stock worth $38,243,000 after acquiring an additional 62,696 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Assurant by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 171,370 shares of the financial services provider’s stock valued at $34,079,000 after acquiring an additional 24,887 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

Assurant Trading Up 1.8 %

Shares of NYSE:AIZ opened at $211.09 on Friday. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 15.06 and a beta of 0.62. The business has a 50-day moving average price of $215.33 and a 200-day moving average price of $198.44.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. Assurant’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the firm posted $4.29 EPS. Equities analysts predict that Assurant, Inc. will post 15.38 EPS for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, February 3rd. Assurant’s dividend payout ratio is currently 22.82%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction that occurred on 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 owns 20,658 shares in the company, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AIZ shares. Bank of America lifted their price target on shares of Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Piper Sandler boosted their target price on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Morgan Stanley started coverage on Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target for the company. Truist Financial raised their price target on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $229.50.

Assurant Company 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.