Quest Partners LLC Has $885,000 Stock Holdings in Assurant, Inc. (NYSE:AIZ)

Quest Partners LLC grew its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 369.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,452 shares of the financial services provider's stock after purchasing an additional 3,504 shares during the period. Quest Partners LLC's holdings in Assurant were worth $885,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in Assurant by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider's stock worth $173,179,000 after purchasing an additional 255,471 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Assurant by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider's stock worth $116,159,000 after purchasing an additional 12,935 shares during the last quarter. TD Asset Management Inc grew its position in Assurant by 20.4% in the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider's stock worth $94,118,000 after purchasing an additional 96,021 shares during the last quarter. Mizuho Securities USA LLC grew its position in Assurant by 11,480.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider's stock worth $92,460,000 after purchasing an additional 460,937 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Assurant by 0.7% in the 2nd quarter. Federated Hermes Inc. now owns 383,549 shares of the financial services provider's stock worth $63,765,000 after purchasing an additional 2,700 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AIZ shares. Bank of America lifted their target price on shares of Assurant from $228.00 to $233.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. UBS Group lifted their target price on shares of Assurant from $217.00 to $224.00 and gave the company a "buy" rating in a research report on Monday, September 23rd. Truist Financial lifted their target price on shares of Assurant from $220.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Piper Sandler lifted their target price on shares of Assurant from $200.00 to $217.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Finally, StockNews.com downgraded shares of Assurant from a "buy" rating to a "hold" rating in a report on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.20.

Assurant Price Performance

Shares of NYSE AIZ traded up $2.64 during trading on Thursday, reaching $223.49. The company had a trading volume of 79,158 shares, compared to its average volume of 349,447. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $223.49. The stock has a market cap of $11.46 billion, a PE ratio of 15.75, a PEG ratio of 2.18 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42. The business's 50 day moving average price is $198.78 and its 200-day moving average price is $183.73.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly 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. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a net margin of 6.31% and a return on equity of 17.42%. Assurant's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.29 earnings per share. Analysts expect that Assurant, Inc. will post 15.05 earnings per share for the current year.

Assurant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.43%. The ex-dividend date is Monday, December 9th. This is an increase from Assurant's previous quarterly dividend of $0.72. Assurant's dividend payout ratio is presently 20.54%.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now owns 20,658 shares of the company's stock, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.53% of the stock is owned by insiders.

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.