Horizon Advisory Services Inc. Purchases New Stake in Assurant, Inc. (NYSE:AIZ)

Horizon Advisory Services Inc. purchased a new stake in Assurant, Inc. (NYSE:AIZ) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,557 shares of the financial services provider’s stock, valued at approximately $332,000. Assurant makes up about 0.2% of Horizon Advisory Services Inc.’s investment portfolio, making the stock its 21st biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of AIZ. True Wealth Design LLC acquired a new position in Assurant in the third quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Assurant during the fourth quarter worth about $28,000. Huntington National Bank raised its stake in Assurant by 509.4% during the third quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 163 shares in the last quarter. Brooklyn Investment Group acquired a new position in Assurant during the third quarter worth about $42,000. Finally, Capital Performance Advisors LLP acquired a new position in Assurant during the third quarter worth about $56,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AIZ shares. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Truist Financial boosted their target price on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $212.00 to $230.00 in a research note on Thursday, February 20th. Finally, Morgan Stanley started coverage on Assurant in a research note on Thursday, December 5th. They set an “equal weight” rating and a $251.00 target price for the company. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and an average price target of $234.17.

Assurant Stock Performance

Assurant stock opened at $202.64 on Tuesday. The business has a 50 day moving average of $210.08 and a 200-day moving average of $204.15. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $10.29 billion, a P/E ratio of 14.00 and a beta of 0.62.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, equities research analysts predict 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 31st. Shareholders of record on Monday, February 3rd will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Monday, February 3rd. Assurant’s dividend payout ratio is presently 22.11%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the completion of the sale, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

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.