California Public Employees Retirement System Reduces Position in Assurant, Inc. $AIZ

California Public Employees Retirement System trimmed its position in Assurant, Inc. (NYSE:AIZ) by 7.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 132,402 shares of the financial services provider’s stock after selling 9,998 shares during the period. California Public Employees Retirement System’s holdings in Assurant were worth $28,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Montag A & Associates Inc. acquired a new stake in shares of Assurant during the fourth quarter worth about $28,000. CYBER HORNET ETFs LLC purchased a new position in shares of Assurant during the 2nd quarter valued at about $27,000. BOKF NA acquired a new position in shares of Assurant in the 3rd quarter valued at about $32,000. Park Square Financial Group LLC boosted its stake in shares of Assurant by 205.5% in the fourth quarter. Park Square Financial Group LLC now owns 168 shares of the financial services provider’s stock worth $40,000 after buying an additional 113 shares during the last quarter. Finally, Greenline Wealth Management LLC acquired a new position in Assurant in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Piper Sandler restated an “overweight” rating on shares of Assurant in a research report on Monday, June 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $270.00 to $310.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. UBS Group increased their price target on shares of Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Morgan Stanley raised their price target on shares of Assurant from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, July 6th. Finally, Royal Bank Of Canada set a $310.00 price objective on shares of Assurant in a report on Wednesday, June 17th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $291.43.

Insider Activity at Assurant

In related news, EVP Jay Rosenblum sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Keith Meier sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $254.31, for a total transaction of $6,357,750.00. Following the completion of the transaction, the executive vice president directly owned 18,552 shares in the company, valued at $4,717,959.12. This represents a 57.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,000 shares of company stock worth $9,211,620 in the last ninety days. 0.54% of the stock is owned by company insiders.

Assurant Stock Down 0.0%

Assurant stock opened at $275.39 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market capitalization of $13.65 billion, a PE ratio of 14.09 and a beta of 0.55. The business has a 50 day simple moving average of $262.94 and a 200-day simple moving average of $240.41. Assurant, Inc. has a 12 month low of $183.39 and a 12 month high of $284.12.

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

Assurant Dividend Announcement

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