Texas Permanent School Fund Corp Sells 2,192 Shares of Assurant, Inc. $AIZ

Texas Permanent School Fund Corp lowered its holdings in Assurant, Inc. (NYSE:AIZ) by 40.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,247 shares of the financial services provider’s stock after selling 2,192 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Assurant were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Assurant by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 455,070 shares of the financial services provider’s stock worth $89,872,000 after acquiring an additional 6,041 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Assurant by 458.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 79,845 shares of the financial services provider’s stock worth $15,769,000 after purchasing an additional 65,546 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Assurant by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,501 shares of the financial services provider’s stock worth $74,357,000 after purchasing an additional 24,153 shares during the period. CW Advisors LLC raised its stake in Assurant by 82.4% during the 2nd quarter. CW Advisors LLC now owns 11,308 shares of the financial services provider’s stock valued at $2,233,000 after buying an additional 5,109 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its holdings in shares of Assurant by 16.0% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 8,310 shares of the financial services provider’s stock valued at $1,641,000 after buying an additional 1,148 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIZ has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Assurant in a report on Monday. Truist Financial set a $255.00 target price on Assurant in a research report on Wednesday, October 29th. Morgan Stanley upped their price target on shares of Assurant from $232.00 to $248.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $248.00 to $254.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Finally, Piper Sandler boosted their target price on shares of Assurant from $252.00 to $264.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $252.67.

Assurant Stock Up 0.3%

NYSE AIZ opened at $241.89 on Friday. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $243.22. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $12.11 billion, a P/E ratio of 14.72 and a beta of 0.57. The stock’s 50-day moving average price is $223.82 and its 200-day moving average price is $210.77.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 earnings per share (EPS) for the quarter. Assurant had a return on equity of 18.61% and a net margin of 6.75%.The company had revenue of $2.42 billion during the quarter. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. On average, equities research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Stockholders of record on Monday, December 1st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, December 1st. This is a positive change from Assurant’s previous quarterly dividend of $0.80. Assurant’s payout ratio is 21.42%.

Insider Buying and Selling at Assurant

In related news, CEO Keith Demmings sold 13,725 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $220.52, for a total value of $3,026,637.00. Following the completion of the transaction, the chief executive officer owned 84,647 shares of the company’s stock, valued at approximately $18,666,356.44. This represents a 13.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.51% of the company’s stock.

Assurant Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.