California Public Employees Retirement System Sells 8,200 Shares of Assurant, Inc. (NYSE:AIZ)

California Public Employees Retirement System cut its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 350,681 shares of the financial services provider's stock after selling 8,200 shares during the period. California Public Employees Retirement System owned approximately 0.67% of Assurant worth $59,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of Assurant in the fourth quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd grew its position in shares of Assurant by 104.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 91 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Assurant in the fourth quarter valued at approximately $40,000. Parkside Financial Bank & Trust grew its position in shares of Assurant by 52.0% in the third quarter. Parkside Financial Bank & Trust now owns 310 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 106 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in Assurant by 839.4% in the fourth quarter. Global Retirement Partners LLC now owns 310 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 277 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Assurant Trading Down 0.4 %

NYSE:AIZ traded down $0.76 during trading hours on Friday, reaching $172.88. 289,173 shares of the stock were exchanged, compared to its average volume of 351,791. The company has a quick ratio of 0.41, a current ratio of 0.41 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average of $178.83 and a two-hundred day moving average of $168.97. Assurant, Inc. has a twelve month low of $116.46 and a twelve month high of $189.48. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 2.24 and a beta of 0.50.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $4.58 earnings per share for the quarter, topping analysts' consensus estimates of $3.70 by $0.88. Assurant had a return on equity of 18.36% and a net margin of 5.77%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.78 billion. On average, equities analysts predict that Assurant, Inc. will post 15.67 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler upped their price objective on Assurant from $195.00 to $205.00 and gave the company an "overweight" rating in a report on Friday, April 5th. Keefe, Bruyette & Woods cut Assurant from an "outperform" rating to a "market perform" rating and upped their price objective for the company from $170.00 to $182.00 in a report on Monday, February 12th. Finally, UBS Group upped their price objective on Assurant from $191.00 to $205.00 and gave the company a "buy" rating in a report on Monday, February 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Assurant has a consensus rating of "Moderate Buy" and an average target price of $192.20.

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.