State Board of Administration of Florida Retirement System Has $7.92 Million Stock Position in Assurant, Inc. (NYSE:AIZ)

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State Board of Administration of Florida Retirement System raised its stake in Assurant, Inc. (NYSE:AIZ) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,479 shares of the financial services provider’s stock after buying an additional 2,444 shares during the period. State Board of Administration of Florida Retirement System owned 0.12% of Assurant worth $7,923,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Assurant by 10.9% during the first quarter. BlackRock Inc. now owns 4,021,908 shares of the financial services provider’s stock worth $381,720,000 after purchasing an additional 395,140 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of Assurant by 42.0% during the first quarter. Neuberger Berman Group LLC now owns 843,392 shares of the financial services provider’s stock worth $80,046,000 after purchasing an additional 249,325 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Assurant by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 711,913 shares of the financial services provider’s stock worth $63,569,000 after purchasing an additional 19,203 shares during the period. USS Investment Management Ltd lifted its holdings in shares of Assurant by 46.3% during the second quarter. USS Investment Management Ltd now owns 384,500 shares of the financial services provider’s stock worth $40,872,000 after purchasing an additional 121,600 shares during the period. Finally, California Public Employees Retirement System raised its stake in Assurant by 6.6% during the first quarter. California Public Employees Retirement System now owns 383,098 shares of the financial services provider’s stock worth $36,360,000 after buying an additional 23,732 shares during the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.

In related news, COO Gene Mergelmeyer sold 15,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $124.24, for a total transaction of $1,863,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael P. Campbell sold 5,500 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $124.26, for a total transaction of $683,430.00. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Assurant from $119.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. UBS Group lifted their target price on shares of Assurant to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. They noted that the move was a valuation call.

Shares of NYSE AIZ traded up $0.63 during mid-day trading on Wednesday, reaching $121.49. 18,807 shares of the company’s stock traded hands, compared to its average volume of 662,410. The stock has a market cap of $7.40 billion, a P/E ratio of 20.95 and a beta of 0.54. The business has a 50-day simple moving average of $115.91 and a 200 day simple moving average of $103.49. Assurant, Inc. has a 1-year low of $82.31 and a 1-year high of $125.87. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.48 and a quick ratio of 0.48.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.21. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Assurant had a net margin of 4.00% and a return on equity of 7.58%. The business’s revenue was up 39.0% on a year-over-year basis. During the same period last year, the company earned $2.13 earnings per share. Equities research analysts anticipate that Assurant, Inc. will post 8.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, August 23rd. Assurant’s dividend payout ratio is currently 41.38%.

Assurant Company Profile

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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