State of Alaska Department of Revenue Boosts Position in Assurant, Inc. (NYSE:AIZ)

State of Alaska Department of Revenue lifted its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 122.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,009 shares of the financial services provider's stock after acquiring an additional 7,160 shares during the period. State of Alaska Department of Revenue's holdings in Assurant were worth $2,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC raised its holdings in Assurant by 127.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 134 shares of the financial services provider's stock valued at $28,000 after buying an additional 75 shares during the period. Jones Financial Companies Lllp raised its holdings in Assurant by 219.1% in the 4th quarter. Jones Financial Companies Lllp now owns 150 shares of the financial services provider's stock valued at $32,000 after buying an additional 103 shares during the period. TD Private Client Wealth LLC raised its holdings in Assurant by 503.1% in the 4th quarter. TD Private Client Wealth LLC now owns 193 shares of the financial services provider's stock valued at $41,000 after buying an additional 161 shares during the period. Park Square Financial Group LLC purchased a new stake in Assurant in the 4th quarter valued at about $44,000. Finally, Ameriflex Group Inc. purchased a new stake in Assurant in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 92.65% of the company's stock.

Insider Transactions at Assurant

In other news, EVP Jay Rosenblum sold 1,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $201.93, for a total transaction of $201,930.00. Following the completion of the transaction, the executive vice president now directly owns 11,775 shares of the company's stock, valued at approximately $2,377,725.75. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on AIZ shares. Piper Sandler upgraded shares of Assurant from a "neutral" rating to an "overweight" rating and set a $223.00 price objective on the stock in a report on Thursday, April 10th. Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a report on Wednesday, May 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Assurant from $224.00 to $225.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Finally, Morgan Stanley set a $217.00 price objective on shares of Assurant and gave the company an "equal weight" rating in a report on Monday, May 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.67.

Assurant Stock Performance

NYSE AIZ opened at $196.04 on Friday. The company has a market cap of $9.97 billion, a P/E ratio of 15.28 and a beta of 0.61. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.41 and a quick ratio of 0.41. The stock has a 50-day moving average of $196.69 and a two-hundred day moving average of $204.18. Assurant, Inc. has a 1-year low of $160.12 and a 1-year high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last released its earnings results on Tuesday, May 6th. The financial services provider reported $3.39 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.61. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.06 billion. Assurant had a return on equity of 15.49% and a net margin of 5.55%. Assurant's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.78 EPS. As a group, analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Monday, June 9th. Assurant's dividend payout ratio is currently 24.94%.

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.

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