State of Alaska Department of Revenue Has $1.25 Million Position in Assurant, Inc. (NYSE:AIZ)

State of Alaska Department of Revenue lowered its stake in shares of Assurant, Inc. (NYSE:AIZ) by 3.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 5,849 shares of the financial services provider’s stock after selling 195 shares during the period. State of Alaska Department of Revenue’s holdings in Assurant were worth $1,247,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Architects LLC bought a new position in Assurant in the 4th quarter valued at $2,420,000. Tectonic Advisors LLC increased its stake in Assurant by 3.6% during the 4th quarter. Tectonic Advisors LLC now owns 2,843 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 98 shares in the last quarter. Longboard Asset Management LP acquired a new position in shares of Assurant during the fourth quarter worth about $232,000. Calamos Advisors LLC boosted its holdings in Assurant by 0.3% during the fourth quarter. Calamos Advisors LLC now owns 107,044 shares of the financial services provider’s stock worth $22,824,000 after purchasing an additional 296 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its position in Assurant by 42.8% during the fourth quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 86 shares during the last quarter. 92.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AIZ. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley initiated coverage on shares of Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target on the stock. Truist Financial increased their price objective on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $229.50.

Assurant Price Performance

Shares of NYSE AIZ opened at $207.46 on Thursday. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $10.64 billion, a P/E ratio of 14.80 and a beta of 0.62. The stock’s 50-day simple moving average is $212.83 and its two-hundred day simple moving average is $202.44.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.31% and a return on equity of 17.42%. As a group, equities analysts anticipate that Assurant, Inc. will post 15.82 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s dividend payout ratio is currently 22.82%.

Assurant 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.