Louisiana State Employees Retirement System Makes New $566,000 Investment in Assurant, Inc. $AIZ

Louisiana State Employees Retirement System bought a new position in Assurant, Inc. (NYSE:AIZ) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,600 shares of the financial services provider’s stock, valued at approximately $566,000.

Several other hedge funds and other institutional investors have also modified their holdings of AIZ. CYBER HORNET ETFs LLC bought a new position in shares of Assurant in the second quarter valued at approximately $27,000. Montag A & Associates Inc. bought a new stake in Assurant during the 4th quarter worth approximately $28,000. BOKF NA acquired a new stake in Assurant during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. raised its position in Assurant by 57.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 67 shares during the last quarter. Finally, Park Square Financial Group LLC raised its position in Assurant by 205.5% in the 4th quarter. Park Square Financial Group LLC now owns 168 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 113 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Insider Buying and Selling

In related news, CAO Dimitry Dirienzo sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total value of $511,360.00. Following the completion of the sale, the chief accounting officer owned 2,741 shares in the company, valued at approximately $700,818.88. This represents a 42.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jay Rosenblum sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $251.77, for a total transaction of $503,540.00. Following the completion of the sale, the executive vice president owned 12,764 shares in the company, valued at $3,213,592.28. This represents a 13.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,000 shares of company stock valued at $9,211,620 in the last three months. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AIZ has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $258.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Royal Bank Of Canada set a $310.00 target price on shares of Assurant in a research report on Wednesday, June 17th. Piper Sandler reissued an “overweight” rating on shares of Assurant in a research note on Monday, June 22nd. Weiss Ratings cut shares of Assurant from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, June 23rd. Finally, Truist Financial upped their price objective on Assurant from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $285.71.

Assurant Stock Up 0.3%

Shares of NYSE AIZ opened at $280.05 on Wednesday. Assurant, Inc. has a 1 year low of $183.39 and a 1 year high of $284.12. The firm’s 50-day moving average is $254.96 and its 200-day moving average is $237.85. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $13.88 billion, a PE ratio of 14.32 and a beta of 0.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share for the quarter, beating the consensus estimate of $5.29 by $0.66. Assurant had a net margin of 7.60% and a return on equity of 20.32%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the prior year, the business posted $5.79 earnings per share. Assurant’s revenue was up 11.3% compared to the same quarter last year. Equities analysts expect that Assurant, Inc. will post 21.04 EPS for the current year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 8th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Monday, June 8th. Assurant’s dividend payout ratio (DPR) is currently 18.01%.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.