14,327 Shares in Assurant, Inc. $AIZ Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. bought a new stake in Assurant, Inc. (NYSE:AIZ) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,327 shares of the financial services provider’s stock, valued at approximately $3,847,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. lifted its position in shares of Assurant by 1.6% during the 4th quarter. Jupiter Asset Management Ltd. now owns 349,361 shares of the financial services provider’s stock worth $84,144,000 after purchasing an additional 5,462 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Assurant by 146.7% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 8,140 shares of the financial services provider’s stock valued at $1,961,000 after buying an additional 4,840 shares in the last quarter. Strs Ohio raised its stake in Assurant by 972.1% in the fourth quarter. Strs Ohio now owns 12,994 shares of the financial services provider’s stock valued at $3,130,000 after buying an additional 11,782 shares in the last quarter. BlackRock Inc. purchased a new stake in Assurant during the 2nd quarter worth about $1,345,211,000. Finally, Bank of America Corp DE lifted its holdings in Assurant by 1.3% during the 1st quarter. Bank of America Corp DE now owns 361,210 shares of the financial services provider’s stock worth $78,675,000 after buying an additional 4,460 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Insider Buying and Selling

In related news, EVP Robert Lonergan sold 7,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were 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 owned 27,374 shares in the company, valued at $7,191,423.54. This represents a 20.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nair Biju sold 3,931 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $302.46, for a total transaction of $1,188,970.26. Following the completion of the sale, the executive vice president owned 24,247 shares of the company’s stock, valued at approximately $7,333,747.62. This trade represents a 13.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.54% of the company’s stock.

Assurant Stock Up 1.2%

Assurant stock opened at $287.56 on Tuesday. The company has a market capitalization of $14.18 billion, a P/E ratio of 13.73 and a beta of 0.55. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38. Assurant, Inc. has a fifty-two week low of $205.01 and a fifty-two week high of $303.94. The stock has a 50-day simple moving average of $276.90 and a 200-day simple moving average of $248.10.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.17 by $1.24. The firm had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $5.56 EPS. Equities research analysts expect that Assurant, Inc. will post 22.05 earnings per share for the current year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, August 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, August 31st. Assurant’s dividend payout ratio is presently 16.81%.

Wall Street Analysts Forecast Growth

AIZ has been the subject of several analyst reports. Morgan Stanley upped their price objective on Assurant from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods boosted their target price on Assurant from $310.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Truist Financial upped their price target on Assurant from $310.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings raised Assurant from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, August 11th. Finally, UBS Group increased their price target on shares of Assurant from $274.00 to $331.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Assurant has a consensus rating of “Buy” and an average price target of $316.57.

Assurant 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.