McElhenny Sheffield Capital Management LLC Makes New $559,000 Investment in Assurant, Inc. (NYSE:AIZ)

McElhenny Sheffield Capital Management LLC bought a new position in shares of Assurant, Inc. (NYSE:AIZ) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,621 shares of the financial services provider’s stock, valued at approximately $559,000.

Several other institutional investors also recently bought and sold shares of the stock. True Wealth Design LLC bought a new stake in Assurant during the third quarter worth approximately $25,000. Huntington National Bank lifted its stake in shares of Assurant by 509.4% in the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Assurant during the 3rd quarter worth $42,000. Capital Performance Advisors LLP acquired a new position in Assurant in the 3rd quarter valued at $56,000. Finally, Intact Investment Management Inc. bought a new position in Assurant in the 3rd quarter worth $72,000. 92.65% of the stock is currently owned by institutional investors.

Assurant Stock Performance

Assurant stock opened at $211.39 on Friday. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a fifty day moving average price of $215.81 and a two-hundred day moving average price of $196.80. The firm has a market capitalization of $10.84 billion, a P/E ratio of 15.08 and a beta of 0.62.

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

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, February 3rd. Assurant’s dividend payout ratio is currently 22.82%.

Analyst Upgrades and Downgrades

AIZ has been the subject of several research analyst reports. StockNews.com cut Assurant from a “buy” rating to a “hold” rating in a research report on Thursday, October 17th. Morgan Stanley initiated coverage on Assurant in a report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target for the company. UBS Group raised their price objective on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Keefe, Bruyette & Woods upped their target price on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Finally, Truist Financial raised their price target on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $229.50.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction 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 completion of the sale, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

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.