Retirement Systems of Alabama increased its stake in Assurant Inc. (NYSE:AIZ) by 160.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,326 shares of the company’s stock after buying an additional 52,531 shares during the period. Retirement Systems of Alabama’s holdings in Assurant were worth $7,364,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its stake in Assurant by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,864,540 shares of the company’s stock valued at $143,849,000 after buying an additional 10,375 shares during the period. Wellington Management Group LLP raised its stake in Assurant by 16.4% in the first quarter. Wellington Management Group LLP now owns 1,561,523 shares of the company’s stock valued at $120,471,000 after buying an additional 220,377 shares during the period. BlackRock Group LTD raised its stake in Assurant by 0.3% in the first quarter. BlackRock Group LTD now owns 519,260 shares of the company’s stock valued at $40,060,000 after buying an additional 1,543 shares during the period. Altrinsic Global Advisors LLC bought a new stake in Assurant during the first quarter valued at approximately $32,674,000. Finally, Renaissance Technologies LLC raised its stake in Assurant by 6.0% in the first quarter. Renaissance Technologies LLC now owns 411,100 shares of the company’s stock valued at $31,716,000 after buying an additional 23,415 shares during the period. Hedge funds and other institutional investors own 94.52% of the company’s stock.
Shares of Assurant Inc. (NYSE:AIZ) traded down 0.01% on Friday, hitting $89.93. The stock had a trading volume of 281,431 shares. Assurant Inc. has a 12 month low of $64.36 and a 12 month high of $92.63. The firm’s 50-day moving average price is $89.42 and its 200 day moving average price is $85.48. The firm has a market cap of $5.41 billion, a P/E ratio of 13.27 and a beta of 0.76.
Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, July 26th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.71 billion. Assurant had a net margin of 4.97% and a return on equity of 8.08%. The company’s revenue for the quarter was down 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 earnings per share. Analysts anticipate that Assurant Inc. will post $5.90 EPS for the current fiscal year.
AIZ has been the subject of several analyst reports. Zacks Investment Research lowered Assurant from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Credit Suisse Group AG initiated coverage on Assurant in a research note on Friday. They issued a “neutral” rating and a $93.00 price target for the company. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $77.00 price target on shares of Assurant in a research note on Wednesday, July 6th. Goldman Sachs Group Inc. lowered Assurant to a “buy” rating and set a $95.00 price target for the company. in a research note on Sunday, July 17th. Finally, DOWLING & PARTN reiterated a “neutral” rating on shares of Assurant in a research note on Tuesday, August 23rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $91.00.
In related news, EVP Christopher J. Pagano sold 6,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $89.76, for a total transaction of $538,560.00. Following the completion of the transaction, the executive vice president now directly owns 70,149 shares in the company, valued at $6,296,574.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Andrew Sondej sold 5,000 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $86.04, for a total transaction of $430,200.00. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
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