Assurant, Inc. (NYSE:AIZ) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its position in Assurant, Inc. (NYSE:AIZ) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,659 shares of the financial services provider’s stock after selling 3,620 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.10% of Assurant worth $6,203,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AIZ. Parkside Financial Bank & Trust increased its position in Assurant by 353.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the period. Ellevest Inc. increased its position in Assurant by 1,526.7% in the 1st quarter. Ellevest Inc. now owns 244 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 229 shares during the period. State of Wyoming acquired a new stake in Assurant in the 4th quarter valued at approximately $32,000. Covestor Ltd increased its position in Assurant by 453.2% in the 1st quarter. Covestor Ltd now owns 260 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 213 shares during the period. Finally, CoreCap Advisors LLC acquired a new stake in Assurant in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 93.13% of the company’s stock.

Assurant Trading Up 1.2 %

Assurant stock opened at $140.28 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.41 and a current ratio of 0.41. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. Assurant, Inc. has a 1 year low of $104.49 and a 1 year high of $155.53. The firm’s 50 day moving average price is $136.94 and its two-hundred day moving average price is $127.69.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $1.29. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Assurant had a return on equity of 13.66% and a net margin of 3.27%. On average, research analysts predict that Assurant, Inc. will post 12.58 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 18th. Investors of record on Monday, August 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $2.80 dividend on an annualized basis and a yield of 2.00%. Assurant’s dividend payout ratio is currently 43.55%.

Insiders Place Their Bets

In other Assurant news, EVP Robert Lonergan sold 3,000 shares of Assurant stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $144.43, for a total transaction of $433,290.00. Following the transaction, the executive vice president now directly owns 17,981 shares in the company, valued at approximately $2,596,995.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Assurant news, CAO Francesca Luthi sold 3,700 shares of Assurant stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $142.99, for a total transaction of $529,063.00. Following the transaction, the chief accounting officer now owns 11,132 shares of the company’s stock, valued at approximately $1,591,764.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert Lonergan sold 3,000 shares of Assurant stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $144.43, for a total value of $433,290.00. Following the transaction, the executive vice president now directly owns 17,981 shares in the company, valued at approximately $2,596,995.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,700 shares of company stock worth $2,059,393. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on AIZ shares. Truist Financial raised their target price on shares of Assurant from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. StockNews.com initiated coverage on shares of Assurant in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Piper Sandler upgraded Assurant from a “neutral” rating to an “overweight” rating and set a $144.00 price target on the stock in a research report on Tuesday, June 13th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Assurant presently has an average rating of “Buy” and a consensus target price of $141.00.

Assurant 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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.