California State Teachers Retirement System Sells 1,259 Shares of Assurant, Inc. $AIZ

California State Teachers Retirement System reduced its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,569 shares of the financial services provider's stock after selling 1,259 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Assurant worth $15,459,004 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ProShare Advisors LLC raised its position in shares of Assurant by 0.3% in the 4th quarter. ProShare Advisors LLC now owns 17,064 shares of the financial services provider's stock worth $4,110,000 after buying an additional 47 shares during the period. Root Financial Partners LLC raised its holdings in shares of Assurant by 27.5% in the first quarter. Root Financial Partners LLC now owns 246 shares of the financial services provider's stock valued at $54,000 after buying an additional 53 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Assurant by 0.9% during the first quarter. Oregon Public Employees Retirement Fund now owns 5,739 shares of the financial services provider's stock worth $1,250,000 after acquiring an additional 54 shares in the last quarter. Blackhawk Capital Partners LLC boosted its stake in shares of Assurant by 2.5% during the 1st quarter. Blackhawk Capital Partners LLC now owns 2,223 shares of the financial services provider's stock worth $484,000 after acquiring an additional 55 shares during the period. Finally, Arlington Trust Co LLC raised its holdings in shares of Assurant by 81.4% during the 2nd quarter. Arlington Trust Co LLC now owns 127 shares of the financial services provider's stock worth $34,000 after buying an additional 57 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Trading Up 1.0%

Assurant stock traded up $2.75 during mid-day trading on Tuesday, hitting $286.01. 156,566 shares of the stock were exchanged, compared to its average volume of 390,510. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of 13.66 and a beta of 0.54. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.36. Assurant, Inc. has a 12 month low of $205.01 and a 12 month high of $303.94. The firm's fifty day simple moving average is $281.85 and its two-hundred day simple moving average is $254.18.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, topping the consensus estimate of $5.17 by $1.24. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.43 billion. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.56 EPS. Analysts forecast that Assurant, Inc. will post 22.07 EPS for the current year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Monday, August 31st will be issued a $0.88 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $3.52 annualized dividend and a yield of 1.2%. Assurant's dividend payout ratio is 16.81%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AIZ shares. Truist Financial increased their price objective on Assurant from $310.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Weiss Ratings upgraded Assurant from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Tuesday, August 11th. Wall Street Zen lowered Assurant from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. UBS Group upped their price objective on Assurant from $274.00 to $331.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Finally, Piper Sandler raised their price target on shares of Assurant from $290.00 to $329.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Assurant presently has an average rating of "Buy" and an average target price of $327.14.

Insider Buying and Selling

In related news, EVP Robert Lonergan sold 7,000 shares of Assurant stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $262.71, for a total value of $1,838,970.00. Following the sale, the executive vice president owned 27,374 shares of the company's stock, valued at approximately $7,191,423.54. The trade was a 20.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Biju Nair sold 3,931 shares of Assurant stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $302.46, for a total value of $1,188,970.26. Following the sale, the executive vice president directly owned 24,247 shares in the company, valued at $7,333,747.62. The trade was a 13.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.54% of the stock is owned by company insiders.

Assurant Profile

Assurant, Inc is a global business services and insurance company that provides protection products and services supporting major purchases and everyday needs. Its offerings are designed to help consumers, businesses and distribution partners manage risks associated with connected devices, housing and transportation.

The company's Lifestyle segment provides mobile device protection, extended service contracts, vehicle service contracts and related services. Its Global Housing segment offers renters insurance, homeowners insurance, lender-placed insurance and other specialty property products.

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