Mutual of America Capital Management LLC Trims Stock Holdings in Assurant, Inc. $AIZ

Mutual of America Capital Management LLC reduced its stake in Assurant, Inc. (NYSE:AIZ) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,814 shares of the financial services provider’s stock after selling 150 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Assurant were worth $1,148,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in shares of Assurant in the 1st quarter worth approximately $26,000. REAP Financial Group LLC lifted its holdings in shares of Assurant by 193.9% in the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 95 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Assurant by 192.2% in the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 98 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 122 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Assurant by 57.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. BMO Capital Markets assumed coverage on shares of Assurant in a research note on Tuesday, August 12th. They set an “outperform” rating and a $238.00 target price on the stock. UBS Group upped their target price on shares of Assurant from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Piper Sandler upped their target price on shares of Assurant from $238.00 to $248.00 and gave the stock an “overweight” rating in a research note on Friday, October 10th. Finally, Benchmark assumed coverage on shares of Assurant in a research note on Tuesday, August 12th. They set a “buy” rating on the stock. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and a consensus price target of $243.00.

Assurant Trading Up 0.2%

Shares of NYSE:AIZ opened at $211.95 on Monday. The company has a market cap of $10.70 billion, a PE ratio of 15.35 and a beta of 0.55. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $230.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The company’s 50 day moving average is $213.90 and its two-hundred day moving average is $201.79.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. The company had revenue of $2.42 billion for the quarter. Assurant had a net margin of 5.83% and a return on equity of 16.47%. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. Equities analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Assurant’s dividend payout ratio is currently 23.17%.

Insider Buying and Selling at Assurant

In other news, EVP Jay Rosenblum sold 3,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total transaction of $813,267.00. Following the transaction, the executive vice president directly owned 7,875 shares in the company, valued at approximately $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Keith Demmings sold 13,725 shares of the firm’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the transaction, the chief executive officer owned 84,647 shares in the company, valued at approximately $18,666,356.44. This trade represents a 13.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,125 shares of company stock worth $5,917,925 over the last three months. Insiders own 0.51% of the company’s stock.

Assurant Company 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.