Assurant, Inc. (NYSE:AIZ) Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P grew its holdings in Assurant, Inc. (NYSE:AIZ) by 37.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,127 shares of the financial services provider’s stock after acquiring an additional 1,123 shares during the period. Martingale Asset Management L P’s holdings in Assurant were worth $821,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Assurant by 6.0% during the 3rd quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after purchasing an additional 65,874 shares during the period. AQR Capital Management LLC grew its holdings in Assurant by 32.5% during the second quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock worth $173,179,000 after acquiring an additional 255,471 shares during the period. Dimensional Fund Advisors LP grew its holdings in Assurant by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock worth $116,159,000 after acquiring an additional 12,935 shares during the period. TD Asset Management Inc raised its position in Assurant by 20.4% during 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 acquiring an additional 96,021 shares in the last quarter. Finally, Mizuho Securities USA LLC lifted its holdings in Assurant by 11,480.4% in the third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock valued at $92,460,000 after acquiring an additional 460,937 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Down 0.6 %

AIZ stock opened at $225.76 on Tuesday. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The firm has a 50-day simple moving average of $204.02 and a 200-day simple moving average of $186.56. The stock has a market capitalization of $11.58 billion, a P/E ratio of 16.10 and a beta of 0.57.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, topping the consensus estimate of $2.52 by $0.48. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. Assurant had a return on equity of 17.42% and a net margin of 6.31%. Assurant’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.29 EPS. Equities analysts forecast that Assurant, Inc. will post 15.41 earnings per share for the current fiscal year.

Assurant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a $0.80 dividend. This is an increase from Assurant’s previous quarterly dividend of $0.72. This represents a $3.20 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, December 9th. Assurant’s dividend payout ratio is currently 22.82%.

Analyst Ratings Changes

AIZ has been the subject of several recent research reports. 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 report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. StockNews.com lowered shares of Assurant from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Bank of America lifted their price target on Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, UBS Group increased their price target on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.20.

Insider Buying and Selling at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $209.18, for a total transaction of $627,540.00. Following the completion of the sale, the executive vice president now owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This represents a 12.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.