Quantitative Systematic Strategies LLC Purchases 5,364 Shares of Assurant, Inc. (AIZ)
Quantitative Systematic Strategies LLC lifted its position in Assurant, Inc. (NYSE:AIZ) by 24.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,322 shares of the financial services provider’s stock after purchasing an additional 5,364 shares during the quarter. Quantitative Systematic Strategies LLC’s holdings in Assurant were worth $2,593,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Investment Advisory Services Inc. raised its stake in Assurant by 5.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 2,517 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 135 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Assurant by 9.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 1,758 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 150 shares in the last quarter. CWM Advisors LLC raised its stake in Assurant by 6.3% during the fourth quarter. CWM Advisors LLC now owns 3,008 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 179 shares in the last quarter. Old North State Trust LLC raised its stake in Assurant by 16.7% during the first quarter. Old North State Trust LLC now owns 1,268 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 181 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its stake in Assurant by 59.6% during the fourth quarter. CSat Investment Advisory L.P. now owns 581 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 217 shares in the last quarter. Institutional investors and hedge funds own 94.47% of the company’s stock.
Assurant stock traded down $0.90 during mid-day trading on Monday, hitting $94.94. 336,093 shares of the company were exchanged, compared to its average volume of 624,682. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.47 and a quick ratio of 0.47. Assurant, Inc. has a 1-year low of $82.31 and a 1-year high of $111.43. The firm has a market capitalization of $5.89 billion, a P/E ratio of 16.37 and a beta of 0.63.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, February 25th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, February 22nd. This represents a $2.40 annualized dividend and a yield of 2.53%. Assurant’s dividend payout ratio is currently 41.38%.
Separately, UBS Group dropped their price objective on Assurant to $124.00 and set a “buy” rating for the company in a research note on Friday, March 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $125.75.
In other Assurant news, insider Tpg Advisors Vi-Aiv, Inc. sold 7,869,230 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $98.15, for a total transaction of $772,364,924.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.68% of the company’s stock.
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Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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