Teacher Retirement System of Texas Has $7.14 Million Stock Holdings in Assurant, Inc. $AIZ

Teacher Retirement System of Texas grew its stake in shares of Assurant, Inc. (NYSE:AIZ) by 381.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,129 shares of the financial services provider’s stock after purchasing an additional 28,625 shares during the quarter. Teacher Retirement System of Texas owned about 0.07% of Assurant worth $7,135,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in shares of Assurant during the 1st quarter worth approximately $26,000. REAP Financial Group LLC increased its position in shares of Assurant by 193.9% during the 2nd quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 95 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Assurant by 1,133.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 148 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 136 shares during the last quarter. Private Trust Co. NA increased its position in shares of Assurant by 192.2% during the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Assurant by 312.8% during the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Stock Up 2.1%

AIZ stock opened at $212.43 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The business’s 50 day simple moving average is $213.66 and its 200 day simple moving average is $202.25. Assurant, Inc. has a 1-year low of $174.97 and a 1-year high of $230.55. The firm has a market capitalization of $10.72 billion, a PE ratio of 15.38 and a beta of 0.55.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Thursday, March 24th. The financial services provider reported $1.80 EPS for the quarter. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The firm had revenue of $2.42 billion for the quarter. Assurant has set its FY 2022 guidance at $13.062-$13.512 EPS. As a group, research analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Assurant’s dividend payout ratio is currently 23.17%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total value 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Dimitry Dirienzo sold 950 shares of the company’s stock in a transaction on Friday, August 8th. The shares were 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 in the company, valued at approximately $642,549.60. This represents a 23.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,125 shares of company stock valued at $5,917,925 in the last ninety days. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AIZ shares. Keefe, Bruyette & Woods lifted 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. Stephens assumed coverage on Assurant in a report on Tuesday, August 12th. They set an “overweight” rating on the stock. Wall Street Zen raised Assurant from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. UBS Group boosted their target price on Assurant from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Finally, Truist Financial set a $255.00 target price on Assurant in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.83.

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.