First Manhattan Co. held its position in Assurant, Inc. (NYSE:AIZ) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,015 shares of the financial services provider’s stock at the end of the second quarter. First Manhattan Co. owned about 0.12% of Assurant worth $6,534,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Bridgewater Associates LP purchased a new position in Assurant during the first quarter valued at $1,896,000. Canada Pension Plan Investment Board boosted its position in Assurant by 93.8% in the first quarter. Canada Pension Plan Investment Board now owns 7,384 shares of the financial services provider’s stock valued at $706,000 after buying an additional 3,574 shares in the last quarter. Korea Investment CORP purchased a new position in Assurant during the first quarter valued at $3,559,000. Nationwide Fund Advisors raised its stake in Assurant by 68.0% in the first quarter. Nationwide Fund Advisors now owns 142,398 shares of the financial services provider’s stock valued at $13,623,000 after buying an additional 57,644 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Assurant by 2,736.9% in the first quarter. BlackRock Inc. now owns 3,755,033 shares of the financial services provider’s stock valued at $359,245,000 after buying an additional 3,622,668 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.
Shares of Assurant, Inc. (NYSE AIZ) opened at 102.54 on Friday. Assurant, Inc. has a 1-year low of $78.50 and a 1-year high of $106.99. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 13.48 and a beta of 0.77. The stock has a 50 day moving average price of $104.63 and a 200 day moving average price of $99.86.
Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.05. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the company posted $1.42 earnings per share. The business’s revenue was down 11.0% on a year-over-year basis. On average, equities analysts anticipate that Assurant, Inc. will post $6.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 28th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, August 24th. Assurant’s dividend payout ratio is currently 27.89%.
Separately, BidaskClub raised Assurant from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $98.33.
In related news, EVP Christopher J. Pagano sold 7,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the transaction, the executive vice president now owns 55,978 shares of the company’s stock, valued at $5,762,375.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company’s stock.
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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