State of New Jersey Common Pension Fund D Has $3.53 Million Position in Assurant, Inc. (NYSE:AIZ)

State of New Jersey Common Pension Fund D trimmed its position in shares of Assurant, Inc. (NYSE:AIZ) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,760 shares of the financial services provider’s stock after selling 742 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Assurant were worth $3,532,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AIZ. Innealta Capital LLC bought a new stake in shares of Assurant during the second quarter valued at approximately $31,000. Richardson Financial Services Inc. increased its holdings in Assurant by 62.1% in the 2nd quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after buying an additional 77 shares during the period. Family Firm Inc. acquired a new position in shares of Assurant in the 2nd quarter valued at $51,000. Capital Performance Advisors LLP bought a new position in shares of Assurant during the 3rd quarter worth about $56,000. Finally, Blue Trust Inc. boosted its position in shares of Assurant by 40.1% during the 2nd quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock valued at $59,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Trading Up 0.7 %

Shares of AIZ opened at $212.31 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.40 and a current ratio of 0.66. The company has a market cap of $11.00 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 2.19 and a beta of 0.57. The stock has a fifty day moving average price of $195.46 and a two-hundred day moving average price of $181.69. Assurant, Inc. has a 52-week low of $159.32 and a 52-week high of $214.82.

Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.48. Assurant had a return on equity of 17.42% and a net margin of 6.31%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the business posted $4.29 earnings per share. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Analysts predict that Assurant, Inc. will post 15.05 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 3rd were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, September 3rd. Assurant’s dividend payout ratio is currently 20.54%.

Insider Buying and Selling

In other news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the sale, the executive vice president now directly owns 20,658 shares of the company’s stock, valued at approximately $4,321,240.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Assurant news, CAO Dimitry Dirienzo sold 550 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total transaction of $103,642.00. Following the completion of the sale, the chief accounting officer now owns 3,152 shares in the company, valued at approximately $593,962.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Biju Nair sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $209.18, for a total value of $627,540.00. Following the completion of the transaction, the executive vice president now owns 20,658 shares in the company, valued at $4,321,240.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of Assurant from $217.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Bank of America raised their target price on Assurant from $228.00 to $233.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods upped their price target on Assurant from $194.00 to $212.00 and gave the company a “market perform” rating in a research report on Tuesday. Piper Sandler increased their price objective on Assurant from $200.00 to $217.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial boosted their target price on shares of Assurant from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.20.

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.