Illinois Municipal Retirement Fund Grows Position in Assurant, Inc. $AIZ

Illinois Municipal Retirement Fund boosted its position in shares of Assurant, Inc. (NYSE:AIZ) by 35.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,869 shares of the financial services provider’s stock after purchasing an additional 4,151 shares during the period. Illinois Municipal Retirement Fund’s holdings in Assurant were worth $3,134,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AIZ. GAMMA Investing LLC grew its stake in shares of Assurant by 3.9% during the second quarter. GAMMA Investing LLC now owns 1,527 shares of the financial services provider’s stock valued at $302,000 after buying an additional 58 shares during the last quarter. Hartford Investment Management Co. increased its stake in Assurant by 1.3% in the 2nd quarter. Hartford Investment Management Co. now owns 4,556 shares of the financial services provider’s stock worth $900,000 after buying an additional 60 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Assurant by 47.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider’s stock valued at $40,000 after buying an additional 61 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Assurant by 57.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares during the period. Finally, Forte Capital LLC ADV grew its stake in Assurant by 5.2% in the 1st quarter. Forte Capital LLC ADV now owns 1,620 shares of the financial services provider’s stock worth $340,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 92.65% of the company’s stock.

Insider Activity at Assurant

In other news, CEO Keith Demmings sold 13,725 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the completion of the sale, the chief executive officer owned 84,647 shares in the company, valued at approximately $18,666,356.44. This represents a 13.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 22,275 shares of company stock worth $4,909,946. Corporate insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AIZ. UBS Group increased their price target on Assurant from $255.00 to $257.00 and gave the stock a “buy” rating in a research report on Monday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Assurant in a report on Wednesday, October 8th. Stephens initiated coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an “overweight” rating on the stock. Benchmark began coverage on shares of Assurant in a report on Tuesday, August 12th. They issued a “buy” rating for the company. Finally, Piper Sandler increased their price objective on shares of Assurant from $238.00 to $248.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $244.17.

Assurant Stock Performance

AIZ stock opened at $226.51 on Thursday. Assurant, Inc. has a one year low of $174.97 and a one year high of $230.55. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 16.40 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a 50-day simple moving average of $214.41 and a two-hundred day simple moving average of $204.16.

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

Assurant 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.