Illinois Municipal Retirement Fund Purchases 2,209 Shares of Assurant, Inc. (NYSE:AIZ)

Illinois Municipal Retirement Fund increased its position in shares of Assurant, Inc. (NYSE:AIZ) by 23.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,718 shares of the financial services provider’s stock after purchasing an additional 2,209 shares during the period. Illinois Municipal Retirement Fund’s holdings in Assurant were worth $2,499,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Cascade Investment Advisors Inc. raised its holdings in shares of Assurant by 0.7% in the 4th quarter. Cascade Investment Advisors Inc. now owns 7,469 shares of the financial services provider’s stock worth $1,593,000 after buying an additional 50 shares in the last quarter. Pathstone Holdings LLC raised its stake in Assurant by 0.5% during the third quarter. Pathstone Holdings LLC now owns 10,087 shares of the financial services provider’s stock worth $2,006,000 after acquiring an additional 52 shares in the last quarter. US Bancorp DE boosted its stake in shares of Assurant by 7.2% in the 3rd quarter. US Bancorp DE now owns 829 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 56 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Assurant by 1.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,615 shares of the financial services provider’s stock worth $1,514,000 after purchasing an additional 79 shares during the last quarter. Finally, Pittenger & Anderson Inc. grew its holdings in shares of Assurant by 0.3% in the 3rd quarter. Pittenger & Anderson Inc. now owns 26,260 shares of the financial services provider’s stock worth $5,222,000 after purchasing an additional 80 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Assurant

In other Assurant news, EVP Biju Nair sold 3,000 shares of Assurant stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $201.50, for a total transaction of $604,500.00. Following the transaction, the executive vice president now directly owns 17,708 shares in the company, valued at approximately $3,568,162. The trade was a 14.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.53% of the company’s stock.

Assurant Stock Performance

Assurant stock opened at $211.18 on Friday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.41. The company has a market cap of $10.73 billion, a PE ratio of 14.59 and a beta of 0.62. The company’s 50-day moving average is $209.68 and its two-hundred day moving average is $204.64. Assurant, Inc. has a 1 year low of $160.12 and a 1 year high of $230.55.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, February 11th. The financial services provider reported $4.79 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.83. Assurant had a return on equity of 17.25% and a net margin of 6.40%. Equities analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, February 3rd will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.52%. The ex-dividend date is Monday, February 3rd. Assurant’s payout ratio is 22.11%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AIZ shares. Truist Financial lifted their price target on shares of Assurant from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, February 13th. StockNews.com lowered Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Keefe, Bruyette & Woods upgraded shares of Assurant from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $212.00 to $230.00 in a research report on Thursday, February 20th. Finally, Morgan Stanley assumed coverage on shares of Assurant in a research note on Thursday, December 5th. They set an “equal weight” rating and a $251.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Assurant currently has a consensus rating of “Moderate Buy” and an average price target of $234.17.

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.