State of New Jersey Common Pension Fund D Has $3.14 Million Stock Holdings in Assurant, Inc. $AIZ

State of New Jersey Common Pension Fund D reduced its stake in Assurant, Inc. (NYSE:AIZ) by 13.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,944 shares of the financial services provider’s stock after selling 2,296 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Assurant were worth $3,135,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AIZ. Bank of New York Mellon Corp boosted its stake in shares of Assurant by 12.7% in the 1st quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider’s stock valued at $784,603,000 after purchasing an additional 420,069 shares during the last quarter. Invesco Ltd. lifted its holdings in Assurant by 28.0% in the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider’s stock valued at $310,285,000 after buying an additional 323,573 shares during the period. Millennium Management LLC boosted its position in Assurant by 1,499.1% during the fourth quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider’s stock valued at $73,375,000 after acquiring an additional 322,608 shares during the last quarter. GAMMA Investing LLC grew its holdings in Assurant by 20,818.1% during the 1st quarter. GAMMA Investing LLC now owns 308,123 shares of the financial services provider’s stock worth $646,290,000 after acquiring an additional 306,650 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in Assurant during the 4th quarter worth about $34,365,000. 92.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CAO Dimitry Dirienzo sold 950 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $204.96, for a total value of $194,712.00. Following the completion of the transaction, the chief accounting officer directly owned 3,135 shares of the company’s stock, valued at $642,549.60. This represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jay Rosenblum sold 3,900 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total transaction of $813,267.00. Following the transaction, the executive vice president directly owned 7,875 shares of the company’s stock, valued at $1,642,173.75. This represents a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.

Assurant Stock Performance

NYSE AIZ opened at $214.8070 on Thursday. The company has a market cap of $10.84 billion, a P/E ratio of 15.55 and a beta of 0.58. The company has a fifty day simple moving average of $195.50 and a 200 day simple moving average of $199.12. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 12-month low of $174.97 and a 12-month high of $230.55.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, beating analysts’ consensus estimates of $4.43 by $1.13. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Assurant’s dividend payout ratio is 23.17%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AIZ shares. Wall Street Zen raised Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods increased their price target on Assurant from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Morgan Stanley reiterated a “cautious” rating on shares of Assurant in a research note on Monday. BMO Capital Markets began coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an “outperform” rating and a $238.00 target price on the stock. Finally, Stephens started coverage on shares of Assurant in a report on Tuesday, August 12th. They issued an “overweight” rating for the company. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.29.

Assurant Company 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.