California State Teachers Retirement System Increases Stake in Assurant, Inc. (NYSE:AIZ)

California State Teachers Retirement System lifted its position in Assurant, Inc. (NYSE:AIZ) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,301 shares of the financial services provider’s stock after acquiring an additional 231 shares during the quarter. California State Teachers Retirement System owned 0.17% of Assurant worth $13,123,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AIZ. Pictet Asset Management Ltd. raised its position in Assurant by 7.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 31,770 shares of the financial services provider’s stock worth $3,997,000 after purchasing an additional 2,100 shares during the period. Virtu Financial LLC purchased a new stake in shares of Assurant in the third quarter worth approximately $218,000. State Street Corp lifted its stake in shares of Assurant by 5.6% during the 3rd quarter. State Street Corp now owns 3,125,755 shares of the financial services provider’s stock worth $393,282,000 after acquiring an additional 164,654 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Assurant by 0.7% during the 3rd quarter. Voya Investment Management LLC now owns 28,517 shares of the financial services provider’s stock worth $3,589,000 after acquiring an additional 208 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its holdings in Assurant by 13.5% during the 3rd quarter. Eqis Capital Management Inc. now owns 2,717 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 323 shares during the period. 93.53% of the stock is owned by hedge funds and other institutional investors.

In other Assurant news, EVP Tammy L. Schultz sold 1,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $132.00, for a total transaction of $132,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by corporate insiders.

Assurant stock opened at $128.50 on Wednesday. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 18.95 and a beta of 0.49. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.48 and a quick ratio of 0.48. Assurant, Inc. has a 1 year low of $82.31 and a 1 year high of $134.25. The firm has a 50-day moving average of $129.00 and a two-hundred day moving average of $118.01.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $1.69 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.69. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.56 billion. Assurant had a net margin of 2.76% and a return on equity of 8.09%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS. Research analysts expect that Assurant, Inc. will post 8.69 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 25th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.52 annualized dividend and a yield of 1.96%. Assurant’s dividend payout ratio (DPR) is currently 43.45%.

Several equities analysts have commented on AIZ shares. Morgan Stanley increased their target price on Assurant from $119.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. UBS Group lifted their target price on Assurant from $153.00 to $154.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, SunTrust Banks boosted their target price on shares of Assurant from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd.

Assurant Company Profile

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.

Further Reading: Quiet Period Expirations

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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