Assurant, Inc. (NYSE:AIZ) Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in Assurant, Inc. (NYSE:AIZ) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,545 shares of the financial services provider’s stock after buying an additional 1,931 shares during the quarter. QRG Capital Management Inc.’s holdings in Assurant were worth $2,892,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AIZ. Leuthold Group LLC acquired a new position in Assurant in the first quarter valued at approximately $3,730,000. GSA Capital Partners LLP acquired a new position in shares of Assurant in the 1st quarter valued at $1,213,000. SteelPeak Wealth LLC boosted its holdings in Assurant by 770.1% during the second quarter. SteelPeak Wealth LLC now owns 13,051 shares of the financial services provider’s stock worth $2,170,000 after buying an additional 11,551 shares in the last quarter. UniSuper Management Pty Ltd grew its position in Assurant by 608.5% during the first quarter. UniSuper Management Pty Ltd now owns 5,640 shares of the financial services provider’s stock valued at $1,062,000 after buying an additional 4,844 shares during the period. Finally, Bessemer Group Inc. grew its position in Assurant by 3,412.0% during the first quarter. Bessemer Group Inc. now owns 14,645 shares of the financial services provider’s stock valued at $2,757,000 after buying an additional 14,228 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AIZ shares. Keefe, Bruyette & Woods increased their target price on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 14th. UBS Group upped their price target on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Piper Sandler upped their target price on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Bank of America lifted their price target on shares of Assurant from $228.00 to $233.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $217.00.

Assurant Price Performance

NYSE:AIZ opened at $206.46 on Thursday. The firm has a market cap of $10.69 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 2.04 and a beta of 0.57. The stock has a 50 day moving average of $194.70 and a two-hundred day moving average of $180.94. Assurant, Inc. has a 12 month low of $158.29 and a 12 month high of $207.24. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.52 by $0.48. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned $4.29 EPS. On average, analysts expect that Assurant, Inc. will post 14.13 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were given a dividend of $0.72 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.39%. Assurant’s payout ratio is presently 19.19%.

Insider Activity at Assurant

In other news, CAO Dimitry Dirienzo sold 550 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now directly owns 3,152 shares in the company, valued at $593,962.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Dimitry Dirienzo sold 550 shares of Assurant stock in a transaction on Monday, August 19th. The stock was sold at an average price of $188.44, for a total transaction of $103,642.00. Following the transaction, the chief accounting officer now owns 3,152 shares in the company, valued at $593,962.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at $717,329.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Assurant Company 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.