Meiji Yasuda Asset Management Co Ltd. Has $351,000 Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of Assurant, Inc. (NYSE:AIZ) by 26.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,644 shares of the financial services provider’s stock after selling 600 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Assurant were worth $351,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AIZ. Cerity Partners LLC lifted its stake in shares of Assurant by 57.6% in the third quarter. Cerity Partners LLC now owns 8,105 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 2,963 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Assurant by 9.3% in the 3rd quarter. Bank of Montreal Can now owns 47,011 shares of the financial services provider’s stock worth $9,400,000 after acquiring an additional 4,016 shares during the last quarter. FMR LLC lifted its position in Assurant by 6.0% in the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock valued at $231,392,000 after acquiring an additional 65,874 shares in the last quarter. Brooklyn Investment Group acquired a new position in Assurant during the 3rd quarter valued at about $42,000. Finally, Townsquare Capital LLC increased its holdings in Assurant by 9.4% during the 3rd quarter. Townsquare Capital LLC now owns 1,507 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 130 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Biju Nair sold 3,000 shares of the company’s 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 sale, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. This represents a 14.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Assurant Price Performance

Shares of NYSE:AIZ opened at $206.15 on Friday. The company has a market capitalization of $10.47 billion, a P/E ratio of 14.25 and a beta of 0.61. The company’s 50-day moving average is $208.93 and its 200 day moving average is $207.11. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. Assurant, Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $230.55.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. On average, equities research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

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 paid a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a dividend yield of 1.55%. Assurant’s payout ratio is presently 22.11%.

Assurant 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.