New Mexico Educational Retirement Board Acquires 200 Shares of Assurant, Inc. (NYSE:AIZ)

Posted by Defense World Staff on Oct 6th, 2023

New Mexico Educational Retirement Board increased its holdings in Assurant, Inc. (NYSE:AIZ – Free Report) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,611 shares of the financial services provider’s stock after purchasing an additional 200 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Assurant were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AIZ. Ellevest Inc. boosted its position in Assurant by 1,526.7% during the first quarter. Ellevest Inc. now owns 244 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 229 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Assurant by 353.8% during the first quarter. Parkside Financial Bank & Trust now owns 177 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 138 shares during the last quarter. State of Wyoming bought a new stake in Assurant during the fourth quarter valued at $32,000. TFC Financial Management Inc. bought a new stake in Assurant during the first quarter valued at $36,000. Finally, Desjardins Global Asset Management Inc. bought a new stake in Assurant during the first quarter valued at $37,000. Institutional investors own 93.13% of the company’s stock.

Insider Buying and Selling at Assurant

In other Assurant news, CFO Richard S. Dziadzio sold 4,000 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $143.19, for a total value of $572,760.00. Following the completion of the sale, the chief financial officer now owns 51,893 shares in the company, valued at approximately $7,430,558.67. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Assurant news, CAO Francesca Luthi sold 3,700 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $142.99, for a total value of $529,063.00. Following the completion of the sale, the chief accounting officer now owns 11,132 shares in the company, valued at approximately $1,591,764.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Richard S. Dziadzio sold 4,000 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $143.19, for a total transaction of $572,760.00. Following the transaction, the chief financial officer now directly owns 51,893 shares of the company’s stock, valued at $7,430,558.67. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,700 shares of company stock worth $1,535,113. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AIZ shares. Piper Sandler increased their price objective on shares of Assurant from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial increased their price objective on shares of Assurant from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, StockNews.com started coverage on shares of Assurant in a research report on Thursday. They set a “buy” rating on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $145.20.

View Our Latest Report on AIZ

Assurant Trading Up 1.1 %

AIZ opened at $146.00 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.41 and a quick ratio of 0.41. Assurant, Inc. has a fifty-two week low of $104.49 and a fifty-two week high of $155.45. The firm has a market capitalization of $7.74 billion, a PE ratio of 22.71, a P/E/G ratio of 0.83 and a beta of 0.53. The company’s 50-day moving average is $141.00 and its 200 day moving average is $130.03.

Assurant (NYSE:AIZ – Get Free Report) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.60 by $1.29. Assurant had a net margin of 3.27% and a return on equity of 13.66%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.64 billion. As a group, research analysts predict that Assurant, Inc. will post 12.58 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Shareholders of record on Monday, August 28th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $2.80 annualized dividend and a yield of 1.92%. Assurant’s dividend payout ratio (DPR) is 43.55%.

Assurant Profile

(Free Report)

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 products and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, leased and financed solutions, and other related services.