Marshall Wace LLP Boosts Holdings in Assurant, Inc. (NYSE:AIZ)

Marshall Wace LLP raised its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 18.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,778 shares of the financial services provider’s stock after purchasing an additional 31,150 shares during the period. Marshall Wace LLP owned 0.39% of Assurant worth $33,878,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lyrical Asset Management LP raised its stake in Assurant by 2.0% in the fourth quarter. Lyrical Asset Management LP now owns 783,257 shares of the financial services provider’s stock valued at $131,971,000 after buying an additional 15,074 shares during the last quarter. Northern Trust Corp boosted its stake in Assurant by 23.4% in the 4th quarter. Northern Trust Corp now owns 737,099 shares of the financial services provider’s stock worth $124,194,000 after purchasing an additional 139,680 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Assurant by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 698,677 shares of the financial services provider’s stock worth $116,159,000 after acquiring an additional 12,935 shares during the last quarter. TD Asset Management Inc lifted its position in Assurant by 20.4% during the 2nd quarter. TD Asset Management Inc now owns 566,123 shares of the financial services provider’s stock worth $94,118,000 after acquiring an additional 96,021 shares during the period. Finally, Federated Hermes Inc. grew its stake in Assurant by 0.7% during the 2nd quarter. Federated Hermes Inc. now owns 383,549 shares of the financial services provider’s stock valued at $63,765,000 after purchasing an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Down 0.4 %

AIZ stock opened at $196.54 on Thursday. Assurant, Inc. has a one year low of $141.83 and a one year high of $199.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.40 and a current ratio of 0.40. The firm’s fifty day moving average is $185.34 and its 200 day moving average is $177.76. The firm has a market cap of $10.22 billion, a PE ratio of 13.72, a P/E/G ratio of 1.68 and a beta of 0.57.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Assurant had a return on equity of 19.63% and a net margin of 6.90%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $3.89 EPS. On average, research analysts forecast that Assurant, Inc. will post 16.54 EPS for the current year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Tuesday, September 3rd. Assurant’s payout ratio is 20.10%.

Insider Transactions at Assurant

In related news, EVP Martin Jenns sold 1,500 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the sale, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Martin Jenns sold 1,500 shares of Assurant stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total value of $267,195.00. Following the sale, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dimitry Dirienzo sold 550 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the transaction, the chief accounting officer now directly owns 3,152 shares of the company’s stock, valued at approximately $593,962.88. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AIZ. UBS Group lifted their target price on Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a report on Monday. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a report on Wednesday, August 14th. StockNews.com cut shares of Assurant from a “buy” rating to a “hold” rating in a report on Tuesday. Bank of America lowered their price target on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Piper Sandler cut Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price objective for the company. in a report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $209.00.

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.