Quantinno Capital Management LP Acquires 1,325 Shares of Assurant, Inc. (NYSE:AIZ)

Quantinno Capital Management LP lifted its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 22.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,130 shares of the financial services provider's stock after buying an additional 1,325 shares during the period. Quantinno Capital Management LP's holdings in Assurant were worth $1,520,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AIZ. Bank of New York Mellon Corp increased its holdings in shares of Assurant by 36.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,320,590 shares of the financial services provider's stock worth $708,016,000 after buying an additional 891,292 shares during the last quarter. Norges Bank bought a new position in Assurant during the 4th quarter valued at about $143,475,000. Millennium Management LLC grew its holdings in Assurant by 1,499.1% during the 4th quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider's stock valued at $73,375,000 after purchasing an additional 322,608 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Assurant during the 4th quarter valued at about $34,365,000. Finally, Northern Trust Corp grew its holdings in Assurant by 23.1% during the 4th quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock valued at $177,370,000 after purchasing an additional 156,364 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

Insider Transactions at Assurant

In other news, EVP Jay Rosenblum sold 1,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $201.93, for a total value of $201,930.00. Following the completion of the sale, the executive vice president now owns 11,775 shares of the company's stock, valued at approximately $2,377,725.75. This represents a 7.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.51% of the company's stock.

Analyst Upgrades and Downgrades

AIZ has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of Assurant from $200.00 to $217.00 and gave the company an "equal weight" rating in a report on Monday. Keefe, Bruyette & Woods upped their price target on shares of Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a report on Monday. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price target on the stock in a report on Thursday, April 10th. Truist Financial upped their price target 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, Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Assurant currently has a consensus rating of "Moderate Buy" and an average target price of $228.67.

Assurant Price Performance

Assurant stock opened at $193.14 on Friday. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 13.35 and a beta of 0.59. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55. The firm has a 50-day moving average of $197.42 and a two-hundred day moving average of $207.09.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.78 by $0.61. Assurant had a net margin of 6.40% and a return on equity of 17.25%. The company had revenue of $3.07 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same period in the previous year, the company earned $4.78 EPS. The firm's quarterly revenue was up 6.7% on a year-over-year basis. On average, research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $3.20 annualized dividend and a dividend yield of 1.66%. Assurant's payout ratio is presently 24.94%.

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.

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