California State Teachers Retirement System Has $15.96 Million Holdings in Assurant, Inc. (NYSE:AIZ)

California State Teachers Retirement System raised its stake in Assurant, Inc. (NYSE:AIZ) by 0.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,779 shares of the financial services provider’s stock after acquiring an additional 77 shares during the quarter. California State Teachers Retirement System owned approximately 0.16% of Assurant worth $15,959,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Assetmark Inc. bought a new position in Assurant in the 4th quarter valued at approximately $44,000. Global Retirement Partners LLC lifted its holdings in Assurant by 839.4% during the 4th quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider’s stock worth $51,000 after buying an additional 277 shares during the period. Quarry LP bought a new stake in shares of Assurant in the 4th quarter valued at about $51,000. Headlands Technologies LLC acquired a new stake in shares of Assurant in the fourth quarter valued at about $64,000. Finally, Covestor Ltd raised its position in shares of Assurant by 35.7% during the first quarter. Covestor Ltd now owns 346 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 91 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIZ has been the topic of a number of analyst reports. Bank of America reduced their price objective on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective on shares of Assurant in a research note on Friday, June 28th. Finally, Keefe, Bruyette & Woods lifted their target price on Assurant from $182.00 to $186.00 and gave the stock a “market perform” rating in a report on Wednesday, May 15th. One investment 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 presently has an average rating of “Moderate Buy” and an average price target of $204.60.

Assurant Stock Performance

Shares of AIZ opened at $173.93 on Friday. Assurant, Inc. has a one year low of $136.15 and a one year high of $189.48. The company has a market cap of $9.04 billion, a PE ratio of 12.18, a P/E/G ratio of 1.74 and a beta of 0.54. The stock has a 50-day moving average of $169.13 and a 200-day moving average of $173.40. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, May 7th. The financial services provider reported $4.78 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.91. Assurant had a return on equity of 20.08% and a net margin of 6.73%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. On average, equities research analysts predict that Assurant, Inc. will post 16.01 EPS for the current fiscal year.

Assurant Announces Dividend

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

Insider Buying and Selling at Assurant

In related news, insider Robert Lonergan sold 2,700 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $176.12, for a total value of $475,524.00. Following the sale, the insider now owns 19,786 shares in the company, valued at approximately $3,484,710.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Francesca Luthi sold 6,700 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.36, for a total transaction of $1,181,612.00. Following the completion of the sale, the chief operating officer now owns 10,748 shares in the company, valued at $1,895,517.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Lonergan sold 2,700 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.12, for a total transaction of $475,524.00. Following the completion of the sale, the insider now owns 19,786 shares of the company’s stock, valued at approximately $3,484,710.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,788 shares of company stock valued at $2,248,489. Corporate insiders own 0.53% of the company’s stock.

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.