Qtron Investments LLC Has $805,000 Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Qtron Investments LLC reduced its stake in Assurant, Inc. (NYSE:AIZ) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,777 shares of the financial services provider’s stock after selling 844 shares during the period. Qtron Investments LLC’s holdings in Assurant were worth $805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AIZ. Bank of New York Mellon Corp boosted its holdings in shares of Assurant by 36.7% during the 4th quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider’s stock worth $708,016,000 after buying an additional 891,292 shares during the period. Geode Capital Management LLC lifted its position in Assurant by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,399,725 shares of the financial services provider’s stock worth $299,724,000 after acquiring an additional 10,956 shares during the last quarter. Norges Bank bought a new stake in shares of Assurant during the fourth quarter worth approximately $143,475,000. Amundi grew its position in shares of Assurant by 45.0% in the fourth quarter. Amundi now owns 281,199 shares of the financial services provider’s stock valued at $57,764,000 after purchasing an additional 87,323 shares during the last quarter. Finally, FIL Ltd increased its stake in shares of Assurant by 42.4% during the fourth quarter. FIL Ltd now owns 213,550 shares of the financial services provider’s stock worth $45,533,000 after purchasing an additional 63,550 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Truist Financial upped their price objective on Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Piper Sandler raised shares of Assurant from a “neutral” rating to an “overweight” rating and set a $223.00 price target on the stock in a research report on Thursday. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Assurant from $230.00 to $224.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $234.17.

Insider Activity

In other news, EVP Biju Nair sold 3,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Assurant Stock Down 0.5 %

AIZ stock opened at $189.45 on Friday. The company has a market cap of $9.62 billion, a PE ratio of 13.09 and a beta of 0.53. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.41. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The business has a 50-day simple moving average of $204.42 and a 200 day simple moving average of $207.13.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Sell-side analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, February 3rd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, February 3rd. Assurant’s dividend 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.