Retirement Systems of Alabama Sells 399 Shares of Assurant, Inc. (NYSE:AIZ)

Retirement Systems of Alabama lessened its stake in Assurant, Inc. (NYSE:AIZ) by 3.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,590 shares of the financial services provider’s stock after selling 399 shares during the period. Retirement Systems of Alabama’s holdings in Assurant were worth $1,953,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in AIZ. BKM Wealth Management LLC acquired a new stake in Assurant during the 4th quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd lifted its position in shares of Assurant by 104.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 91 shares during the period. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Assurant in the 4th quarter valued at $40,000. Parkside Financial Bank & Trust increased its position in shares of Assurant by 52.0% during the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the financial services provider’s stock worth $45,000 after buying an additional 106 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Assurant by 839.4% during the fourth quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock worth $51,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

AIZ has been the topic of a number of research analyst reports. Piper Sandler upped their price target on shares of Assurant from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. UBS Group upped their target price on Assurant from $191.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods cut Assurant from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $170.00 to $182.00 in a research note on Monday, February 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Assurant presently has a consensus rating of “Moderate Buy” and an average price target of $199.25.

Assurant Price Performance

Shares of NYSE AIZ opened at $176.54 on Thursday. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 0.43. Assurant, Inc. has a 1-year low of $118.45 and a 1-year high of $189.48. The firm’s 50-day moving average price is $178.61 and its 200-day moving average price is $170.66. The firm has a market capitalization of $9.18 billion, a P/E ratio of 14.74, a P/E/G ratio of 2.23 and a beta of 0.53.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $4.58 EPS for the quarter, beating analysts’ consensus estimates of $3.70 by $0.88. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.78 billion. Assurant had a return on equity of 18.36% and a net margin of 5.77%. Equities research analysts anticipate that Assurant, Inc. will post 15.67 earnings per share for the current fiscal year.

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 contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.