Assurant, Inc. (NYSE:AIZ) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its position in Assurant, Inc. (NYSE:AIZ) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,106 shares of the financial services provider’s stock after selling 265 shares during the period. Retirement Systems of Alabama’s holdings in Assurant were worth $2,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Assurant in the third quarter valued at $25,000. Huntington National Bank grew its stake in Assurant by 509.4% during the 3rd quarter. Huntington National Bank now owns 195 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 163 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Assurant during the 3rd quarter worth about $42,000. Capital Performance Advisors LLP acquired a new position in shares of Assurant during the 3rd quarter worth about $56,000. Finally, Richardson Financial Services Inc. boosted its position in shares of Assurant by 42.8% during the 4th quarter. Richardson Financial Services Inc. now owns 287 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 86 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Assurant Price Performance

Shares of NYSE:AIZ opened at $213.06 on Wednesday. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The stock has a fifty day moving average of $213.11 and a 200-day moving average of $202.16. The company has a market capitalization of $10.93 billion, a PE ratio of 15.20 and a beta of 0.62. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.42 and a current ratio of 0.42.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.83. Assurant had a net margin of 6.31% and a return on equity of 17.42%. As a group, equities analysts anticipate that Assurant, Inc. will post 15.82 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.50%. The ex-dividend date is Monday, February 3rd. Assurant’s payout ratio is 22.82%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley started coverage on Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 target price for the company. Truist Financial increased their target price on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their target price on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Assurant presently has a consensus rating of “Moderate Buy” and an average target price of $229.50.

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.