Mirae Asset Global Investments Co. Ltd. Grows Position in Assurant, Inc. $AIZ

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Assurant, Inc. (NYSE:AIZ) by 28.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,539 shares of the financial services provider’s stock after acquiring an additional 2,803 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Assurant were worth $2,716,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its stake in shares of Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Assurant in the 2nd quarter worth approximately $27,000. REAP Financial Group LLC grew its position in shares of Assurant by 193.9% in the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock worth $29,000 after buying an additional 95 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of Assurant by 1,133.3% during the second quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider’s stock valued at $29,000 after buying an additional 136 shares during the period. Finally, Root Financial Partners LLC bought a new position in shares of Assurant during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

NYSE AIZ opened at $240.64 on Tuesday. The company has a 50-day moving average price of $234.35 and a 200-day moving average price of $219.26. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $243.76. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $12.05 billion, a P/E ratio of 14.65 and a beta of 0.56.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $5.73 EPS for the quarter, topping the consensus estimate of $4.23 by $1.50. Assurant had a return on equity of 18.61% and a net margin of 6.75%.The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the business posted $3.00 EPS. Assurant’s revenue was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Tuesday, February 17th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $3.52 annualized dividend and a yield of 1.5%. Assurant’s dividend payout ratio is currently 21.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AIZ shares. Truist Financial set a $255.00 target price on shares of Assurant in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Assurant in a research report on Monday, December 29th. Zacks Research lowered Assurant from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. UBS Group raised their target price on Assurant from $255.00 to $257.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Piper Sandler upped their price target on Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a research note on Friday, December 19th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $252.67.

Assurant Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.