Assurant, Inc. (NYSE:AIZ) Holdings Trimmed by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its holdings in Assurant, Inc. (NYSE:AIZFree Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,465 shares of the financial services provider’s stock after selling 125 shares during the period. Retirement Systems of Alabama’s holdings in Assurant were worth $2,158,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. BKM Wealth Management LLC purchased a new stake in Assurant in the 4th quarter worth about $25,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Assurant in the fourth quarter worth approximately $40,000. Assetmark Inc. acquired a new stake in shares of Assurant during the fourth quarter worth approximately $44,000. Quarry LP purchased a new position in Assurant during the fourth quarter valued at approximately $51,000. Finally, Global Retirement Partners LLC increased its stake in Assurant by 839.4% in the 4th quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock valued at $51,000 after buying an additional 277 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Price Performance

NYSE AIZ opened at $161.28 on Friday. The company has a 50 day moving average price of $171.05 and a two-hundred day moving average price of $173.01. Assurant, Inc. has a 12-month low of $122.42 and a 12-month high of $189.48. The stock has a market capitalization of $8.38 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.63 and a beta of 0.54. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.91. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.82 billion. Assurant had a net margin of 6.73% and a return on equity of 20.08%. As a group, equities analysts predict that Assurant, Inc. will post 16.2 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Monday, June 10th. Assurant’s dividend payout ratio is 20.10%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIZ. Piper Sandler reissued an “overweight” rating and set a $205.00 target price on shares of Assurant in a research note on Friday, June 28th. Keefe, Bruyette & Woods lifted their price objective on Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.25.

Read Our Latest Stock Report on Assurant

Insider Activity

In other Assurant news, CAO Dimitry Dirienzo sold 2,084 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $175.29, for a total transaction of $365,304.36. Following the completion of the sale, the chief accounting officer now owns 3,702 shares of the company’s stock, valued at $648,923.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael P. Campbell sold 1,304 shares of Assurant stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $173.35, for a total value of $226,048.40. Following the transaction, the executive vice president now directly owns 24,586 shares in the company, valued at $4,261,983.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dimitry Dirienzo sold 2,084 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $175.29, for a total value of $365,304.36. Following the transaction, the chief accounting officer now directly owns 3,702 shares of the company’s stock, valued at approximately $648,923.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,788 shares of company stock valued at $2,248,489. Insiders own 0.53% of the company’s stock.

Assurant Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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