Retirement Systems of Alabama Lowers Holdings in Assurant, Inc. (NYSE:AIZ)

Retirement Systems of Alabama lessened its stake in Assurant, Inc. (NYSE:AIZ) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,106 shares of the financial services provider’s stock after selling 265 shares during the quarter. Retirement Systems of Alabama’s holdings in Assurant were worth $2,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AIZ. Sanctuary Advisors LLC purchased a new position in shares of Assurant in the 2nd quarter worth about $475,000. CWM LLC raised its position in shares of Assurant by 85.6% in the 3rd quarter. CWM LLC now owns 4,227 shares of the financial services provider’s stock worth $841,000 after purchasing an additional 1,950 shares during the last quarter. Ritholtz Wealth Management increased its holdings in Assurant by 33.4% in the 3rd quarter. Ritholtz Wealth Management now owns 2,531 shares of the financial services provider’s stock worth $503,000 after buying an additional 633 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in Assurant in the 3rd quarter worth about $123,000. Finally, Empirical Asset Management LLC bought a new stake in Assurant in the 3rd quarter worth about $883,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AIZ. StockNews.com upgraded Assurant from a “hold” rating to a “buy” rating in a report on Monday, January 27th. Morgan Stanley began coverage on Assurant in a report on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a report on Tuesday, November 12th. Finally, Truist Financial lifted their price objective on Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.50.

Assurant Stock Performance

Shares of Assurant stock opened at $213.06 on Wednesday. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. The stock’s fifty day moving average is $213.11 and its two-hundred day moving average is $202.16. The company has a market capitalization of $10.93 billion, a PE ratio of 15.20 and a beta of 0.62.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.42% and a net margin of 6.31%. As a group, analysts expect that Assurant, Inc. will post 15.82 earnings per share for the current year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, February 3rd will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Monday, February 3rd. Assurant’s payout ratio is 22.82%.

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.