Resona Asset Management Co. Ltd. Buys Shares of 20,499 Assurant, Inc. (NYSE:AIZ)

Resona Asset Management Co. Ltd. acquired a new stake in Assurant, Inc. (NYSE:AIZ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,499 shares of the financial services provider's stock, valued at approximately $4,375,000.

A number of other hedge funds have also modified their holdings of the business. Quantinno Capital Management LP grew its position in Assurant by 10.8% during the 3rd quarter. Quantinno Capital Management LP now owns 5,805 shares of the financial services provider's stock worth $1,155,000 after purchasing an additional 566 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Assurant by 82.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,444 shares of the financial services provider's stock worth $486,000 after buying an additional 1,101 shares during the last quarter. iA Global Asset Management Inc. increased its position in Assurant by 5.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 3,662 shares of the financial services provider's stock valued at $728,000 after acquiring an additional 196 shares during the period. National Bank of Canada FI raised its stake in Assurant by 198.4% during the 3rd quarter. National Bank of Canada FI now owns 41,909 shares of the financial services provider's stock valued at $8,334,000 after acquiring an additional 27,866 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in Assurant by 19.5% during the 3rd quarter. MML Investors Services LLC now owns 2,677 shares of the financial services provider's stock worth $532,000 after acquiring an additional 436 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Buying and Selling

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 stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

AIZ has been the subject of several analyst reports. StockNews.com cut Assurant from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods reduced their target price on shares of Assurant from $230.00 to $224.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Truist Financial lifted their target price on shares of Assurant from $240.00 to $250.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Piper Sandler raised shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target for the company in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $234.17.

Assurant Price Performance

Shares of NYSE AIZ traded up $5.17 during midday trading on Monday, hitting $194.73. The company had a trading volume of 71,730 shares, compared to its average volume of 379,267. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 13.46 and a beta of 0.53. Assurant, Inc. has a twelve month low of $160.12 and a twelve month high of $230.55. The business has a 50-day simple moving average of $204.42 and a two-hundred day simple moving average of $207.19. 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 (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts' consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Equities research analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, February 3rd were paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Monday, February 3rd. Assurant's dividend payout ratio (DPR) 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.