Assurant, Inc. (NYSE:AIZ) Stock Holdings Lessened by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. cut its stake in shares of Assurant, Inc. (NYSE:AIZ) by 6.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,174 shares of the financial services provider’s stock after selling 154 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Assurant were worth $361,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in shares of Assurant during the 2nd quarter valued at $31,000. Assetmark Inc. acquired a new stake in Assurant during the fourth quarter valued at $44,000. Quarry LP purchased a new position in Assurant in the fourth quarter valued at about $51,000. Family Firm Inc. acquired a new position in Assurant in the 2nd quarter worth about $51,000. Finally, Blue Trust Inc. raised its stake in shares of Assurant by 40.1% during the 2nd quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Stock Performance

Shares of NYSE AIZ opened at $194.27 on Friday. Assurant, Inc. has a 12 month low of $141.30 and a 12 month high of $199.50. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. The company has a market cap of $10.10 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.60 and a beta of 0.57. The business’s 50 day moving average is $183.77 and its two-hundred day moving average is $177.38.

Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.58 by $0.50. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.89 EPS. On average, equities analysts expect that Assurant, Inc. will post 16.54 EPS 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. The ex-dividend date is Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.48%. Assurant’s payout ratio is 20.10%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AIZ. Piper Sandler downgraded 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. Bank of America lowered their price objective on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. UBS Group boosted their target price on Assurant from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods increased their price target on Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.60.

Insider Activity at Assurant

In other Assurant news, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. In related news, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate 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.