Quantinno Capital Management LP Raises Stock Position in Assurant, Inc. (NYSE:AIZ)

Quantinno Capital Management LP increased its position in shares of Assurant, Inc. (NYSE:AIZ) by 10.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,805 shares of the financial services provider’s stock after buying an additional 566 shares during the period. Quantinno Capital Management LP’s holdings in Assurant were worth $1,155,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of AIZ. ORG Partners LLC purchased a new stake in shares of Assurant during the second quarter worth about $80,000. Blue Trust Inc. grew its position in Assurant by 40.1% in the 2nd quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 101 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Assurant by 24.7% during the second quarter. Fifth Third Wealth Advisors LLC now owns 2,271 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 450 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of Assurant during the second quarter worth approximately $7,465,000. Finally, HTLF Bank acquired a new stake in Assurant in the second quarter valued at $469,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Activity

In related news, EVP Biju Nair sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at $4,321,240.44. This represents a 12.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Assurant Stock Performance

NYSE:AIZ opened at $217.59 on Friday. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The stock has a market cap of $11.16 billion, a P/E ratio of 15.52 and a beta of 0.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a 50-day moving average of $207.69 and a two-hundred day moving average of $189.15.

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 analysts’ consensus estimates of $2.52 by $0.48. Assurant had a net margin of 6.31% and a return on equity of 17.42%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the firm posted $4.29 EPS. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, research analysts expect that Assurant, Inc. will post 15.38 earnings per share for the current fiscal year.

Assurant Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, December 9th. This is an increase from Assurant’s previous quarterly dividend of $0.72. Assurant’s dividend payout ratio is currently 22.82%.

Analyst Ratings Changes

Several brokerages have issued reports on AIZ. Piper Sandler raised their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial lifted their price objective on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price target on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. Bank of America upped their target price 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 boosted their target price on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $229.50.

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.