Ontario Teachers Pension Plan Board Increases Holdings in Assurant, Inc. (NYSE:AIZ)

Key Points

• Ontario Teachers Pension Plan Board increased its holdings in Assurant, Inc. by 45.4% in the first quarter, acquiring an additional 2,237 shares and raising total ownership to 7,162 shares valued at approximately $1.5 million.
• Assurant reported earnings of $5.56 per share for the last quarter, exceeding analysts' expectations by 21% and showing an 8% year-over-year revenue growth with total revenue of $3.16 billion.
• The company's shares are currently rated as "Moderate Buy" by analysts with a consensus target price of $228.83, indicating positive sentiment towards its stock performance.

Ontario Teachers Pension Plan Board boosted its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 45.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,162 shares of the financial services provider's stock after acquiring an additional 2,237 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Assurant were worth $1,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new position in Assurant in the 1st quarter valued at approximately $28,000. Private Trust Co. NA lifted its position in Assurant by 192.2% in the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. Assetmark Inc. lifted its position in Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 122 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Assurant by 47.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider's stock worth $40,000 after purchasing an additional 61 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new stake in Assurant in the fourth quarter worth approximately $44,000. 92.65% of the stock is owned by institutional investors.

Insider Activity at Assurant

In other news, EVP Jay Rosenblum sold 1,000 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $201.93, for a total value of $201,930.00. Following the transaction, the executive vice president owned 11,775 shares of the company's stock, valued at $2,377,725.75. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BMO Capital Markets started coverage on shares of Assurant in a report on Tuesday. They issued an "outperform" rating and a $238.00 target price on the stock. Morgan Stanley increased their target price on Assurant from $217.00 to $218.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods increased their target price on Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $231.57.

Assurant Stock Performance

Shares of NYSE:AIZ traded up $2.07 during midday trading on Tuesday, hitting $207.78. The company had a trading volume of 141,190 shares, compared to its average volume of 489,203. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $10.57 billion, a price-to-earnings ratio of 15.08 and a beta of 0.58. Assurant, Inc. has a 12-month low of $174.97 and a 12-month high of $230.55. The company has a fifty day moving average of $193.89 and a two-hundred day moving average of $199.08.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, topping the consensus estimate of $4.43 by $1.13. Assurant had a return on equity of 16.47% and a net margin of 5.83%. The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the company earned $4.77 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities research analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a $0.80 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Assurant's dividend payout ratio (DPR) is 23.17%.

Assurant Profile

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.