Lyrical Asset Management LP Trims Position in Assurant, Inc. (NYSE:AIZ)

Lyrical Asset Management LP lowered its stake in shares of Assurant, Inc. (NYSE:AIZ) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 728,810 shares of the financial services provider’s stock after selling 1,723 shares during the quarter. Assurant comprises about 2.3% of Lyrical Asset Management LP’s holdings, making the stock its 21st largest position. Lyrical Asset Management LP owned approximately 1.42% of Assurant worth $155,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Assurant in the 4th quarter valued at approximately $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 75 shares during the period. Jones Financial Companies Lllp grew its position in Assurant by 219.1% in the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock valued at $32,000 after buying an additional 103 shares during the last quarter. TD Private Client Wealth LLC increased its stake in Assurant by 503.1% in the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider’s stock valued at $41,000 after buying an additional 161 shares during the period. Finally, Richardson Financial Services Inc. raised its position in Assurant by 42.8% during the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock worth $61,000 after buying an additional 86 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Trading Down 8.0 %

Shares of AIZ opened at $187.14 on Friday. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $9.51 billion, a P/E ratio of 12.93 and a beta of 0.53. The firm’s 50-day moving average is $208.45 and its two-hundred day moving average is $207.65.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, February 3rd were given a $0.80 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.71%. Assurant’s dividend payout ratio is presently 22.11%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods upgraded Assurant from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Assurant presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.17.

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was 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 in the company, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

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.