Mitsubishi UFJ Trust & Banking Corp Has $10.93 Million Stock Position in Assurant, Inc. (NYSE:AIZ)

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Assurant, Inc. (NYSE:AIZ) by 43.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,253 shares of the financial services provider’s stock after selling 38,969 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Assurant were worth $10,928,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its position in Assurant by 57.6% during the 3rd quarter. Cerity Partners LLC now owns 8,105 shares of the financial services provider’s stock worth $1,612,000 after acquiring an additional 2,963 shares during the last quarter. Bank of Montreal Can boosted its stake in Assurant by 9.3% in the third quarter. Bank of Montreal Can now owns 47,011 shares of the financial services provider’s stock worth $9,400,000 after purchasing an additional 4,016 shares in the last quarter. FMR LLC grew its holdings in shares of Assurant by 6.0% during the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock worth $231,392,000 after purchasing an additional 65,874 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Assurant in the third quarter valued at $42,000. Finally, Townsquare Capital LLC raised its holdings in shares of Assurant by 9.4% in the third quarter. Townsquare Capital LLC now owns 1,507 shares of the financial services provider’s stock valued at $300,000 after buying an additional 130 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the sale, the executive vice president now owns 17,708 shares of the company’s stock, valued at approximately $3,568,162. This trade represents a 14.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley assumed coverage on shares of Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price target for the company. StockNews.com downgraded Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods raised Assurant from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $212.00 to $230.00 in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and a consensus price target of $234.17.

Assurant Price Performance

AIZ opened at $206.15 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The company has a fifty day moving average price of $208.93 and a two-hundred day moving average price of $207.22. The firm has a market capitalization of $10.47 billion, a PE ratio of 14.25 and a beta of 0.61.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. As a group, analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.55%. Assurant’s dividend payout ratio (DPR) is presently 22.11%.

Assurant Company 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.