Catalyst Financial Partners LLC Sells 362 Shares of Assurant, Inc. (NYSE:AIZ)

Catalyst Financial Partners LLC cut its position in shares of Assurant, Inc. (NYSE:AIZ) by 25.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,080 shares of the financial services provider’s stock after selling 362 shares during the period. Catalyst Financial Partners LLC’s holdings in Assurant were worth $230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cascade Investment Advisors Inc. boosted its stake in Assurant by 0.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider’s stock valued at $1,593,000 after buying an additional 50 shares during the last quarter. Pathstone Holdings LLC raised its position in Assurant by 0.5% during the third quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock valued at $2,006,000 after purchasing an additional 52 shares during the period. US Bancorp DE raised its position in Assurant by 7.2% during the third quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 56 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Assurant by 1.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 78 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Assurant by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,615 shares of the financial services provider’s stock valued at $1,514,000 after purchasing an additional 79 shares during the period. 92.65% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIZ. Truist Financial upped their price objective on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday. Keefe, Bruyette & Woods upped their price objective on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley began coverage on Assurant in a research report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $231.17.

Assurant Trading Down 2.5 %

Shares of NYSE AIZ opened at $202.73 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The business’s 50 day moving average price is $212.14 and its 200-day moving average price is $202.51. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 14.46 and a beta of 0.62.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.42% and a net margin of 6.31%. On average, sell-side analysts expect that Assurant, Inc. will post 15.82 earnings per share for the current year.

Assurant Dividend Announcement

The company 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. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.58%. Assurant’s payout ratio is currently 22.82%.

About Assurant

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.