MQS Management LLC Acquires New Holdings in Assurant, Inc. (NYSE:AIZ)

MQS Management LLC bought a new position in Assurant, Inc. (NYSE:AIZ) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,988 shares of the financial services provider’s stock, valued at approximately $331,000.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Assurant during the fourth quarter valued at approximately $108,253,000. AMF Tjanstepension AB acquired a new stake in shares of Assurant in the 1st quarter worth $39,013,000. Gillson Capital LP acquired a new stake in shares of Assurant in the 4th quarter worth $27,013,000. Northern Trust Corp increased its position in Assurant by 23.4% during the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock valued at $124,194,000 after buying an additional 139,680 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in Assurant by 20.4% in the second quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock valued at $94,118,000 after buying an additional 96,021 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIZ has been the topic of a number of research analyst reports. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Keefe, Bruyette & Woods raised their price target on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Piper Sandler lowered shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a report on Thursday, August 22nd. UBS Group upped their target price on Assurant from $210.00 to $217.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Bank of America lowered their price target on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $207.60.

Assurant Trading Up 0.1 %

NYSE AIZ opened at $194.27 on Friday. Assurant, Inc. has a 1 year low of $141.30 and a 1 year high of $199.50. 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 capitalization of $10.10 billion, a PE ratio of 13.56, a P/E/G ratio of 1.60 and a beta of 0.57. The company has a fifty day moving average of $183.77 and a 200 day moving average of $177.39.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $3.58 by $0.50. The firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.89 earnings per share. Research analysts forecast that Assurant, Inc. will post 16.54 earnings per share for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, September 3rd. Assurant’s dividend payout ratio is currently 20.10%.

Insider Buying and Selling

In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction on Monday, August 19th. The shares were 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 owns 3,152 shares of the company’s stock, valued at $593,962.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Assurant news, EVP Martin Jenns sold 1,500 shares of the 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 transaction, the executive vice president now owns 4,027 shares in the company, valued at $717,329.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

About Assurant

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.