Sumitomo Mitsui Trust Group Inc. Has $24.57 Million Position in Assurant, Inc. (NYSE:AIZ)

Sumitomo Mitsui Trust Group Inc. cut its holdings in Assurant, Inc. (NYSE:AIZ) by 12.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 115,217 shares of the financial services provider’s stock after selling 15,784 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Assurant were worth $24,567,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AIZ. Mizuho Securities USA LLC increased its position in shares of Assurant by 11,480.4% during the third quarter. Mizuho Securities USA LLC now owns 464,952 shares of the financial services provider’s stock worth $92,460,000 after acquiring an additional 460,937 shares in the last quarter. World Investment Advisors LLC acquired a new position in Assurant in the 3rd quarter worth $48,430,000. International Assets Investment Management LLC bought a new position in Assurant during the 3rd quarter worth about $284,730,000. Point72 Asset Management L.P. acquired a new stake in shares of Assurant in the 3rd quarter valued at about $26,630,000. Finally, FMR LLC lifted its holdings in shares of Assurant by 6.0% in the third quarter. FMR LLC now owns 1,163,593 shares of the financial services provider’s stock valued at $231,392,000 after purchasing an additional 65,874 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Price Performance

Shares of AIZ opened at $213.06 on Wednesday. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $213.11 and its 200 day simple moving average is $202.16. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 15.20 and a beta of 0.62.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.31% and a return on equity of 17.42%. On average, research analysts forecast that Assurant, Inc. will post 15.82 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be paid a $0.80 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.50%. Assurant’s dividend payout ratio is 22.82%.

Analyst Ratings Changes

AIZ has been the subject of a number of research reports. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Monday, January 27th. 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 objective on the stock. Truist Financial boosted their price objective on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $229.50.

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.