Public Employees Retirement Association of Colorado Lowers Position in Assurant, Inc. (NYSE:AIZ)

Public Employees Retirement Association of Colorado trimmed its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 8.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 5,309 shares of the financial services provider’s stock after selling 465 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Assurant were worth $883,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AIZ. Innealta Capital LLC purchased a new position in shares of Assurant during the second quarter valued at approximately $31,000. Richardson Financial Services Inc. lifted its holdings in shares of Assurant by 62.1% during the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 77 shares during the last quarter. Assetmark Inc. purchased a new position in shares of Assurant during the fourth quarter valued at approximately $44,000. Quarry LP purchased a new position in shares of Assurant during the fourth quarter valued at approximately $51,000. Finally, Family Firm Inc. purchased a new position in shares of Assurant during the second quarter valued at approximately $51,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Stock Down 0.4 %

AIZ opened at $197.31 on Wednesday. The firm has a 50-day simple moving average of $184.85 and a two-hundred day simple moving average of $177.63. Assurant, Inc. has a 52 week low of $141.83 and a 52 week high of $199.50. The company has a market capitalization of $10.26 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.60 and a beta of 0.57. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.42.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 EPS for the quarter, beating the consensus estimate of $3.58 by $0.50. Assurant had a net margin of 6.90% and a return on equity of 19.63%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the firm earned $3.89 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Analysts forecast that Assurant, Inc. will post 16.54 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 3rd will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Tuesday, September 3rd. Assurant’s payout ratio is 20.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $186.00 to $194.00 and gave the stock a “market perform” rating in a report on Wednesday, August 14th. Piper Sandler lowered shares of Assurant from an “overweight” rating to a “neutral” rating and set a $200.00 price objective for the company. in a report on Thursday, August 22nd. Bank of America decreased their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, July 11th. UBS Group lifted their target price on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday. Finally, StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.00.

Insider Activity at Assurant

In related news, EVP Martin Jenns sold 1,500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the transaction, the executive vice president now owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares of the company’s stock, valued at $593,962.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares of the company’s stock, valued at approximately $717,329.51. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

About Assurant

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.