Assurant, Inc. (NYSE:AIZ) Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in Assurant, Inc. (NYSE:AIZ) by 12.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,341 shares of the financial services provider’s stock after purchasing an additional 1,796 shares during the period. QRG Capital Management Inc.’s holdings in Assurant were worth $3,484,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Assurant by 21.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,362 shares of the financial services provider’s stock valued at $1,072,000 after buying an additional 934 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Assurant by 54.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,450 shares of the financial services provider’s stock worth $885,000 after acquiring an additional 1,570 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in Assurant by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,044 shares of the financial services provider’s stock valued at $1,201,000 after acquiring an additional 405 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in Assurant in the 3rd quarter valued at about $240,000. Finally, abrdn plc boosted its position in shares of Assurant by 149.3% during the 3rd quarter. abrdn plc now owns 28,982 shares of the financial services provider’s stock valued at $5,729,000 after purchasing an additional 17,357 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Trading Down 1.5 %

Assurant stock opened at $207.78 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 0.41, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of 14.36 and a beta of 0.62. The company has a 50 day moving average price of $209.59 and a 200 day moving average price of $204.99.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, topping 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%. Research analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.54%. Assurant’s dividend payout ratio is 22.11%.

Insider Transactions at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 17,708 shares in the company, valued at $3,568,162. The trade was a 14.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by insiders.

Analyst Ratings Changes

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

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.