California Public Employees Retirement System Has $55.22 Million Position in Assurant, Inc. (NYSE:AIZ)

California Public Employees Retirement System trimmed its stake in shares of Assurant, Inc. (NYSE:AIZ) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,962 shares of the financial services provider’s stock after selling 3,353 shares during the quarter. California Public Employees Retirement System’s holdings in Assurant were worth $55,216,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in shares of Assurant during the third quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Assurant during the 4th quarter valued at $28,000. Smartleaf Asset Management LLC grew its position in Assurant by 127.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 75 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Assurant by 219.1% in the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 103 shares in the last quarter. Finally, TD Private Client Wealth LLC raised its position in Assurant by 503.1% in the fourth quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Insider Activity at Assurant

In related news, EVP Biju Nair sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now owns 17,708 shares in the company, valued at $3,568,162. The trade was a 14.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is owned by corporate insiders.

Assurant Stock Up 0.7 %

Shares of NYSE AIZ opened at $211.14 on Wednesday. The company’s 50 day moving average price is $208.93 and its 200-day moving average price is $207.61. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.43 and a current ratio of 0.43. Assurant, Inc. has a 52-week low of $160.12 and a 52-week high of $230.55. The company has a market capitalization of $10.72 billion, a P/E ratio of 14.59 and a beta of 0.61.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.83. Assurant had a net margin of 6.40% and a return on equity of 17.25%. Equities analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, February 3rd were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Monday, February 3rd. Assurant’s dividend payout ratio is 22.11%.

Analyst Ratings Changes

AIZ has been the topic of several research reports. Truist Financial boosted their price target on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Morgan Stanley assumed coverage on shares of Assurant in a report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 target price on the stock. StockNews.com downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $212.00 to $230.00 in a research note on Thursday, February 20th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Assurant has a consensus rating of “Moderate Buy” and an average target price of $234.17.

Assurant 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.