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

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 12.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,217 shares of the financial services provider’s stock after selling 15,784 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Assurant worth $24,567,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AIZ. Cascade Investment Advisors Inc. grew its holdings in shares of Assurant by 0.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider’s stock worth $1,593,000 after purchasing an additional 50 shares during the last quarter. Pathstone Holdings LLC grew its holdings in Assurant by 0.5% during the 3rd quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock worth $2,006,000 after acquiring an additional 52 shares during the last quarter. US Bancorp DE increased its position in Assurant by 7.2% in the 3rd quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after acquiring an additional 56 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Assurant by 1.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,919 shares of the financial services provider’s stock worth $1,376,000 after acquiring an additional 78 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Assurant by 1.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 7,615 shares of the financial services provider’s stock worth $1,514,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Assurant Stock Up 0.2 %

Shares of Assurant stock opened at $213.06 on Wednesday. The business has a fifty day simple moving average of $213.11 and a 200 day simple moving average of $202.16. The stock has a market cap of $10.93 billion, a PE ratio of 15.20 and a beta of 0.62. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a 12 month low of $160.12 and a 12 month high of $230.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings results 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 return on equity of 17.42% and a net margin of 6.31%. Research analysts predict that Assurant, Inc. will post 15.82 EPS for the current year.

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be given a dividend of $0.80 per share. The ex-dividend date is Monday, February 3rd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.50%. Assurant’s dividend payout ratio is 22.82%.

Analysts Set New Price Targets

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