XTX Topco Ltd Invests $2.08 Million in Assurant, Inc. $AIZ

XTX Topco Ltd purchased a new stake in Assurant, Inc. (NYSE:AIZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,546 shares of the financial services provider’s stock, valued at approximately $2,083,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. NDVR Inc. lifted its stake in Assurant by 5.9% in the second quarter. NDVR Inc. now owns 1,219 shares of the financial services provider’s stock valued at $241,000 after acquiring an additional 68 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Assurant by 27.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 368 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 79 shares during the period. Coldstream Capital Management Inc. grew its position in Assurant by 3.0% in the 2nd quarter. Coldstream Capital Management Inc. now owns 2,182 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 64 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Assurant by 1.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 455,070 shares of the financial services provider’s stock valued at $89,872,000 after acquiring an additional 6,041 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Assurant by 31.1% in the second quarter. American Century Companies Inc. now owns 114,433 shares of the financial services provider’s stock valued at $22,599,000 after purchasing an additional 27,176 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insider Buying and Selling at Assurant

In related news, CEO Keith Demmings sold 13,725 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the transaction, the chief executive officer directly owned 84,647 shares in the company, valued at approximately $18,666,356.44. The trade was a 13.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 22,275 shares of company stock valued at $4,909,946 over the last three months. 0.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AIZ. Keefe, Bruyette & Woods raised their price target on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Morgan Stanley boosted their target price on shares of Assurant from $232.00 to $248.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Wall Street Zen raised Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Truist Financial set a $255.00 price objective on shares of Assurant in a research note on Wednesday, October 29th. Finally, BMO Capital Markets began coverage on Assurant in a research report on Tuesday, August 12th. They set an “outperform” rating and a $238.00 target price for the company. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $250.00.

Assurant Stock Performance

Shares of AIZ opened at $228.72 on Thursday. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 16.56 and a beta of 0.56. The firm has a fifty day simple moving average of $217.56 and a 200 day simple moving average of $206.38. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $232.02.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. The firm had revenue of $2.42 billion during the quarter. Assurant had a return on equity of 16.47% and a net margin of 5.83%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. Research analysts forecast that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 1st will be paid a $0.88 dividend. This is a boost from Assurant’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, December 1st. Assurant’s dividend payout ratio (DPR) is 21.42%.

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.