Quadrature Capital Ltd Cuts Holdings in Assurant, Inc. (NYSE:AIZ)

Quadrature Capital Ltd lessened its stake in Assurant, Inc. (NYSE:AIZ) by 59.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,730 shares of the financial services provider’s stock after selling 18,495 shares during the period. Quadrature Capital Ltd’s holdings in Assurant were worth $2,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Assurant in the 4th quarter worth approximately $40,000. Global Retirement Partners LLC lifted its holdings in shares of Assurant by 839.4% in the 4th quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 277 shares during the last quarter. Life Planning Partners Inc bought a new stake in shares of Assurant in the 4th quarter worth approximately $62,000. Oak Thistle LLC lifted its holdings in shares of Assurant by 88.8% in the 4th quarter. Oak Thistle LLC now owns 5,445 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 2,561 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Assurant by 0.5% in the 4th quarter. Arizona State Retirement System now owns 14,573 shares of the financial services provider’s stock worth $2,455,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Dimitry Dirienzo sold 2,084 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $175.29, for a total value of $365,304.36. Following the sale, the chief accounting officer now directly owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Michael P. Campbell sold 1,304 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $173.35, for a total value of $226,048.40. Following the sale, the executive vice president now directly owns 24,586 shares of the company’s stock, valued at approximately $4,261,983.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dimitry Dirienzo sold 2,084 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $175.29, for a total transaction of $365,304.36. Following the completion of the sale, the chief accounting officer now directly owns 3,702 shares in the company, valued at $648,923.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,788 shares of company stock worth $2,248,489. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AIZ shares. Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a report on Wednesday, May 15th. Piper Sandler reiterated an “overweight” rating and set a $205.00 price target on shares of Assurant in a report on Friday, June 28th. Finally, Bank of America lowered their price target on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, July 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $204.60.

Assurant Trading Up 2.0 %

NYSE:AIZ traded up $3.46 during midday trading on Friday, reaching $173.05. 232,976 shares of the stock traded hands, compared to its average volume of 345,343. The company has a fifty day moving average of $168.77 and a 200 day moving average of $173.19. Assurant, Inc. has a 12 month low of $132.63 and a 12 month high of $189.48. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $9.00 billion, a P/E ratio of 12.08, a PEG ratio of 1.70 and a beta of 0.54.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 EPS for the quarter, topping the consensus estimate of $3.87 by $0.91. Assurant had a net margin of 6.73% and a return on equity of 20.08%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. On average, research analysts predict that Assurant, Inc. will post 16.14 EPS for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were issued a $0.72 dividend. The ex-dividend date was Monday, June 10th. This represents a $2.88 annualized dividend and a yield of 1.66%. Assurant’s dividend payout ratio (DPR) is presently 20.10%.

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.