QRG Capital Management Inc. Sells 14,459 Shares of Assurant, Inc. $AIZ

QRG Capital Management Inc. cut its position in shares of Assurant, Inc. (NYSE:AIZ) by 77.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,173 shares of the financial services provider’s stock after selling 14,459 shares during the period. QRG Capital Management Inc.’s holdings in Assurant were worth $904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc boosted its position in shares of Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 53 shares during the period. CYBER HORNET ETFs LLC acquired a new position in Assurant in the 2nd quarter worth about $27,000. REAP Financial Group LLC increased its stake in shares of Assurant by 193.9% in the second quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock valued at $29,000 after buying an additional 95 shares during the period. Cullen Frost Bankers Inc. raised its position in Assurant by 1,133.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Assurant by 57.8% during the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial set a $255.00 target price on Assurant in a report on Wednesday, October 29th. Weiss Ratings restated a “buy (b)” rating on shares of Assurant in a research note on Monday, December 29th. Zacks Research downgraded shares of Assurant from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. UBS Group boosted their target price on Assurant from $255.00 to $257.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Piper Sandler increased their price objective on Assurant from $252.00 to $264.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $252.67.

Assurant Stock Performance

NYSE:AIZ opened at $238.45 on Thursday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $11.94 billion, a PE ratio of 14.51 and a beta of 0.56. Assurant, Inc. has a fifty-two week low of $174.97 and a fifty-two week high of $243.76. The business has a 50 day moving average price of $232.64 and a 200-day moving average price of $216.35.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $5.73 EPS for the quarter, beating analysts’ consensus estimates of $4.23 by $1.50. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.15 billion. Assurant had a return on equity of 18.61% and a net margin of 6.75%.Assurant’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.00 EPS. Equities research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 1st were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, December 1st. This is a positive change from Assurant’s previous quarterly dividend of $0.80. Assurant’s dividend payout ratio (DPR) is 21.42%.

Assurant Company 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.