Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 370 Shares of Assurant, Inc. (NYSE:AIZ)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,905 shares of the financial services provider’s stock after selling 370 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Assurant were worth $2,325,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cascade Investment Advisors Inc. lifted its holdings in Assurant by 0.7% during the 4th quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider’s stock worth $1,593,000 after buying an additional 50 shares during the period. Pathstone Holdings LLC lifted its stake in shares of Assurant by 0.5% in the third quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock worth $2,006,000 after acquiring an additional 52 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Assurant by 127.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 75 shares during the last quarter. CIBC Asset Management Inc increased its position in Assurant by 1.1% during the 4th quarter. CIBC Asset Management Inc now owns 7,699 shares of the financial services provider’s stock valued at $1,642,000 after purchasing an additional 84 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Assurant by 30.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 364 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised shares of Assurant from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $212.00 to $230.00 in a research note on Thursday, February 20th. Morgan Stanley began coverage on Assurant in a report on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target for the company. Truist Financial lifted their price objective on Assurant from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $234.17.

Insider Buying and Selling at Assurant

In other news, EVP Biju Nair sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total value of $604,500.00. Following the completion of the sale, the executive vice president now directly owns 17,708 shares of the company’s stock, valued at $3,568,162. This represents a 14.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company’s stock.

Assurant Stock Performance

Shares of AIZ opened at $209.43 on Tuesday. Assurant, Inc. has a one year low of $160.12 and a one year high of $230.55. The company has a market cap of $10.64 billion, a PE ratio of 14.47 and a beta of 0.61. The stock has a 50-day moving average of $208.84 and a 200-day moving average of $206.83. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.43 and a quick ratio of 0.43.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. On average, equities research analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, February 3rd will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.20 annualized dividend and a yield of 1.53%. Assurant’s payout ratio is 22.11%.

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.