Assurant, Inc. $AIZ Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 67.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,906 shares of the financial services provider's stock after acquiring an additional 63,838 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.32% of Assurant worth $34,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Assurant by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 5,040,347 shares of the financial services provider's stock worth $1,213,968,000 after buying an additional 29,974 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Assurant by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider's stock worth $245,121,000 after purchasing an additional 205,767 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in Assurant by 7.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 697,555 shares of the financial services provider's stock worth $168,006,000 after purchasing an additional 49,698 shares during the period. Norges Bank acquired a new stake in Assurant in the 4th quarter valued at about $161,574,000. Finally, Morgan Stanley boosted its stake in shares of Assurant by 5.2% in the 4th quarter. Morgan Stanley now owns 640,431 shares of the financial services provider's stock valued at $154,248,000 after buying an additional 31,432 shares during the period. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on Assurant from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, July 6th. Truist Financial lifted their price target on shares of Assurant from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, June 17th. Wall Street Zen cut shares of Assurant from a "buy" rating to a "hold" rating in a report on Saturday. Piper Sandler reissued an "overweight" rating on shares of Assurant in a research report on Monday, June 22nd. Finally, Weiss Ratings lowered shares of Assurant from a "buy (a-)" rating to a "buy (b+)" rating in a report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $291.43.

Insider Transactions at Assurant

In other news, EVP Robert Lonergan sold 7,000 shares of the business's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $262.71, for a total value of $1,838,970.00. Following the completion of the sale, the executive vice president directly owned 27,374 shares of the company's stock, valued at approximately $7,191,423.54. The trade was a 20.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total value of $511,360.00. Following the transaction, the chief accounting officer owned 2,741 shares in the company, valued at $700,818.88. This represents a 42.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,000 shares of company stock valued at $9,211,620 over the last quarter. Company insiders own 0.54% of the company's stock.

Assurant Stock Up 2.3%

Shares of NYSE:AIZ opened at $283.10 on Wednesday. The firm has a 50 day simple moving average of $265.34 and a 200-day simple moving average of $241.76. Assurant, Inc. has a twelve month low of $183.39 and a twelve month high of $284.12. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $14.03 billion, a PE ratio of 14.48 and a beta of 0.55.

Assurant (NYSE:AIZ - Get Free Report) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, beating analysts' consensus estimates of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period last year, the firm posted $5.79 EPS. The company's revenue was up 11.3% on a year-over-year basis. On average, equities analysts predict that Assurant, Inc. will post 21.04 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 8th were given a dividend of $0.88 per share. The ex-dividend date was Monday, June 8th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. Assurant's payout ratio is 18.01%.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.

Want to see what other hedge funds are holding AIZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Assurant, Inc. (NYSE:AIZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.