Teachers Retirement System of The State of Kentucky Has $777,000 Stake in Assurant, Inc. (NYSE:AIZ)

Teachers Retirement System of The State of Kentucky lessened its position in Assurant, Inc. (NYSE:AIZ) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,907 shares of the financial services provider’s stock after selling 375 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Assurant were worth $777,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AIZ. Blue Trust Inc. increased its stake in shares of Assurant by 40.1% in the second quarter. Blue Trust Inc. now owns 353 shares of the financial services provider’s stock valued at $59,000 after buying an additional 101 shares during the period. Fifth Third Wealth Advisors LLC increased its position in Assurant by 24.7% in the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 2,271 shares of the financial services provider’s stock valued at $378,000 after acquiring an additional 450 shares during the period. Family Firm Inc. bought a new position in shares of Assurant during the second quarter valued at $51,000. Catalyst Financial Partners LLC lifted its holdings in shares of Assurant by 4.2% during the second quarter. Catalyst Financial Partners LLC now owns 1,466 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 59 shares during the period. Finally, AlphaCentric Advisors LLC grew its stake in shares of Assurant by 97.7% in the second quarter. AlphaCentric Advisors LLC now owns 1,054 shares of the financial services provider’s stock worth $175,000 after purchasing an additional 521 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors.

Assurant Stock Performance

Shares of AIZ stock opened at $207.64 on Thursday. The firm has a 50 day moving average of $209.52 and a 200-day moving average of $190.51. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 14.81 and a beta of 0.61. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 0.40. Assurant, Inc. has a 52 week low of $160.12 and a 52 week high of $230.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $3.00 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 firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter last year, the firm posted $4.29 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts forecast that Assurant, Inc. will post 15.38 earnings per share for the current year.

Assurant Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, December 9th. This is an increase from Assurant’s previous quarterly dividend of $0.72. This represents a $3.20 annualized dividend and a dividend yield of 1.54%. Assurant’s payout ratio is presently 22.82%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AIZ shares. 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 raised their price objective on Assurant from $194.00 to $212.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 12th. UBS Group upped their target price on Assurant from $217.00 to $224.00 and gave the company a “buy” rating in a report on Monday, September 23rd. Truist Financial raised their price target on shares of Assurant from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley started coverage on shares of Assurant in a research note on Thursday, December 5th. They issued an “equal weight” rating and a $251.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $229.50.

Insider Transactions at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The shares were 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 owns 20,658 shares in the company, valued at approximately $4,321,240.44. This trade represents a 12.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

About Assurant

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.