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

QRG Capital Management Inc. increased its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 15.3% in the third quarter, Holdings Channel reports. The firm owned 14,545 shares of the financial services provider’s stock after buying an additional 1,931 shares during the period. QRG Capital Management Inc.’s holdings in Assurant were worth $2,892,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in Assurant during the second quarter worth about $31,000. Richardson Financial Services Inc. boosted its position in shares of Assurant by 62.1% during the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 77 shares during the period. Family Firm Inc. acquired a new stake in Assurant in the 2nd quarter valued at approximately $51,000. Blue Trust Inc. raised its position in Assurant by 40.1% in the second quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 101 shares during the period. Finally, Covestor Ltd lifted its stake in Assurant by 35.7% during the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock worth $65,000 after purchasing an additional 91 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Assurant

In related news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at $717,329.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at $593,962.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the sale, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Assurant Price Performance

Shares of NYSE AIZ opened at $206.46 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. The stock’s 50-day moving average is $194.70 and its two-hundred day moving average is $180.94. Assurant, Inc. has a 1-year low of $158.29 and a 1-year high of $207.24.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.48. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm earned $4.29 earnings per share. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Analysts forecast that Assurant, Inc. will post 14.13 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were issued a $0.72 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.39%. Assurant’s payout ratio is 19.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AIZ shares. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their target price on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research report on Wednesday, August 14th. Piper Sandler increased their price target on shares of Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Bank of America lifted their price objective on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, UBS Group upped their target price 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $217.00.

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.