Mutual of America Capital Management LLC Has $1.25 Million Stock Position in Assurant, Inc. (NYSE:AIZ)

Mutual of America Capital Management LLC lowered its stake in shares of Assurant, Inc. (NYSE:AIZ) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,964 shares of the financial services provider’s stock after selling 179 shares during the period. Mutual of America Capital Management LLC’s holdings in Assurant were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Assurant by 12.0% during the first quarter. Principal Financial Group Inc. now owns 79,289 shares of the financial services provider’s stock valued at $16,631,000 after purchasing an additional 8,478 shares during the period. Private Trust Co. NA raised its holdings in shares of Assurant by 192.2% during the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 98 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Assurant by 14.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,163 shares of the financial services provider’s stock valued at $1,271,000 after purchasing an additional 766 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Assurant by 49.1% during the first quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider’s stock valued at $2,137,000 after purchasing an additional 3,356 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Assurant by 35.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider’s stock valued at $1,287,000 after purchasing an additional 1,584 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insider Activity at Assurant

In other Assurant news, EVP Jay Rosenblum sold 1,000 shares of Assurant stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $201.93, for a total transaction of $201,930.00. Following the transaction, the executive vice president owned 11,775 shares of the company’s stock, valued at $2,377,725.75. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Assurant Trading Up 0.8%

NYSE:AIZ opened at $203.38 on Monday. Assurant, Inc. has a one year low of $170.39 and a one year high of $230.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a 50-day moving average of $193.86 and a 200-day moving average of $199.12. The company has a market cap of $10.35 billion, a PE ratio of 14.73 and a beta of 0.58.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.43 by $1.13. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the firm posted $4.77 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities research analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $3.20 annualized dividend and a dividend yield of 1.6%. Assurant’s dividend payout ratio (DPR) is currently 23.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $224.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Morgan Stanley boosted their target price on shares of Assurant from $217.00 to $218.00 and gave the stock an “equal weight” rating in a research report on Monday, July 14th. Finally, Wall Street Zen raised shares of Assurant from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $228.83.

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.