Lazard Asset Management LLC Has $398,000 Position in Assurant, Inc. (NYSE:AIZ)

Lazard Asset Management LLC raised its stake in Assurant, Inc. (NYSE:AIZGet Rating) by 53.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,565 shares of the financial services provider’s stock after purchasing an additional 892 shares during the period. Lazard Asset Management LLC’s holdings in Assurant were worth $398,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its holdings in shares of Assurant by 1.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,129,802 shares of the financial services provider’s stock valued at $178,226,000 after purchasing an additional 15,002 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Assurant by 3.8% in the third quarter. Neuberger Berman Group LLC now owns 664,690 shares of the financial services provider’s stock valued at $104,505,000 after purchasing an additional 24,205 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Assurant by 4.2% in the third quarter. Voya Investment Management LLC now owns 566,814 shares of the financial services provider’s stock valued at $89,415,000 after acquiring an additional 23,007 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Assurant by 9.5% in the fourth quarter. First Trust Advisors LP now owns 426,739 shares of the financial services provider’s stock valued at $66,511,000 after acquiring an additional 37,143 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Assurant by 7.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 352,049 shares of the financial services provider’s stock valued at $54,870,000 after acquiring an additional 23,881 shares in the last quarter. Hedge funds and other institutional investors own 91.36% of the company’s stock.

Several research firms recently commented on AIZ. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Thursday, April 7th. Truist Financial upped their price target on shares of Assurant from $210.00 to $220.00 in a research note on Friday, March 25th. Finally, Morgan Stanley upped their price target on shares of Assurant from $197.00 to $215.00 and gave the company an “overweight” rating in a research note on Monday, March 28th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $195.74.

In other news, EVP Robert Lonergan sold 2,200 shares of the stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $183.19, for a total value of $403,018.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Francesca Luthi sold 4,000 shares of the stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $181.81, for a total transaction of $727,240.00. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Shares of Assurant stock opened at $181.62 on Friday. The company has a market capitalization of $9.82 billion, a price-to-earnings ratio of 7.94, a PEG ratio of 0.82 and a beta of 0.56. The company has a quick ratio of 0.42, a current ratio of 0.25 and a debt-to-equity ratio of 0.44. Assurant, Inc. has a 12-month low of $144.18 and a 12-month high of $194.12. The firm’s 50-day moving average price is $182.15 and its two-hundred day moving average price is $166.33.

Assurant (NYSE:AIZGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.98. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.62 billion. Assurant had a net margin of 13.23% and a return on equity of 11.23%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 earnings per share. On average, sell-side analysts expect that Assurant, Inc. will post 12.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Tuesday, May 31st will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 1.50%. Assurant’s dividend payout ratio (DPR) is currently 11.89%.

Assurant Profile (Get Rating)

Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect 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 products and related services for mobile devices, consumer electronics, and appliances; vehicle protection and related services; and credit protection and other insurance products.

Further Reading

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

Receive News & Ratings for Assurant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assurant and related companies with MarketBeat.com's FREE daily email newsletter.