Assurant, Inc. (NYSE:AIZ) Holdings Reduced by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in Assurant, Inc. (NYSE:AIZ) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,944 shares of the financial services provider’s stock after selling 264 shares during the quarter. Kentucky Retirement Systems’ holdings in Assurant were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Leuthold Group LLC acquired a new position in Assurant during the 1st quarter worth $3,730,000. QRG Capital Management Inc. boosted its position in Assurant by 210.7% during the 1st quarter. QRG Capital Management Inc. now owns 8,705 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 5,903 shares during the period. GSA Capital Partners LLP acquired a new position in Assurant during the 1st quarter worth $1,213,000. Naples Money Management LLC acquired a new stake in shares of Assurant in the fourth quarter valued at $1,988,000. Finally, Truist Financial Corp lifted its holdings in shares of Assurant by 305.5% in the fourth quarter. Truist Financial Corp now owns 8,066 shares of the financial services provider’s stock valued at $1,359,000 after buying an additional 6,077 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Trading Up 0.4 %

Shares of Assurant stock traded up $0.71 on Monday, reaching $173.76. 56,377 shares of the company were exchanged, compared to its average volume of 349,094. The stock has a fifty day moving average price of $168.77 and a 200-day moving average price of $173.26. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 1.70 and a beta of 0.54. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42. Assurant, Inc. has a fifty-two week low of $133.13 and a fifty-two week high of $189.48.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 7th. The financial services provider reported $4.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.91. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. On average, analysts expect that Assurant, Inc. will post 16.14 EPS for the current year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Monday, June 10th. Assurant’s payout ratio is 20.10%.

Insider Activity at Assurant

In related news, EVP Michael P. Campbell sold 1,304 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $173.35, for a total transaction of $226,048.40. Following the transaction, the executive vice president now directly owns 24,586 shares of the company’s stock, valued at $4,261,983.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Assurant news, CAO Dimitry Dirienzo sold 2,084 shares of the company’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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael P. Campbell sold 1,304 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 24,586 shares in the company, valued at $4,261,983.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,788 shares of company stock valued at $2,248,489. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AIZ shares. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective on shares of Assurant in a report on Friday, June 28th. Bank of America cut their price objective on Assurant from $223.00 to $222.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods upped their price objective on Assurant from $182.00 to $186.00 and gave the company a “market perform” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and an average price target of $204.60.

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.