Assurant, Inc. $AIZ Position Increased by Quantinno Capital Management LP

Quantinno Capital Management LP grew its position in Assurant, Inc. (NYSE:AIZ) by 83.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 74,826 shares of the financial services provider’s stock after purchasing an additional 34,103 shares during the period. Quantinno Capital Management LP’s holdings in Assurant were worth $16,298,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Assurant by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider’s stock worth $1,213,968,000 after purchasing an additional 29,974 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Assurant by 22.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider’s stock worth $245,121,000 after buying an additional 205,767 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Assurant by 7.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 697,555 shares of the financial services provider’s stock worth $168,006,000 after buying an additional 49,698 shares during the period. Norges Bank purchased a new position in shares of Assurant during the fourth quarter valued at $161,574,000. Finally, Morgan Stanley grew its holdings in shares of Assurant by 5.2% during the fourth quarter. Morgan Stanley now owns 640,431 shares of the financial services provider’s stock valued at $154,248,000 after buying an additional 31,432 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AIZ. Truist Financial raised their price objective on Assurant from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods upped their target price on Assurant from $270.00 to $310.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Morgan Stanley increased their price target on shares of Assurant from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, July 6th. Piper Sandler reaffirmed an “overweight” rating on shares of Assurant in a research report on Monday, June 22nd. Finally, Weiss Ratings lowered shares of Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $291.43.

Insider Buying and Selling

In related news, EVP Keith Meier sold 25,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $254.31, for a total transaction of $6,357,750.00. Following the sale, the executive vice president directly owned 18,552 shares in the company, valued at $4,717,959.12. This represents a 57.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dimitry Dirienzo sold 2,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $255.68, for a total value of $511,360.00. Following the sale, the chief accounting officer directly owned 2,741 shares of the company’s stock, valued at $700,818.88. This represents a 42.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,000 shares of company stock valued at $9,211,620 in the last ninety days. Insiders own 0.54% of the company’s stock.

Assurant Stock Performance

Shares of NYSE AIZ opened at $279.71 on Monday. The business’s 50-day moving average price is $266.87 and its two-hundred day moving average price is $242.67. Assurant, Inc. has a one year low of $184.15 and a one year high of $284.64. The company has a market capitalization of $13.86 billion, a P/E ratio of 14.31 and a beta of 0.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, topping the consensus estimate of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the company earned $5.79 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. Analysts anticipate that Assurant, Inc. will post 21.04 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 8th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, June 8th. Assurant’s dividend payout ratio (DPR) is 18.01%.

About Assurant

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.