JPMorgan Chase & Co. raised its holdings in Assurant, Inc. (NYSE:AIZ) by 49.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 396,718 shares of the financial services provider’s stock after acquiring an additional 130,649 shares during the quarter. JPMorgan Chase & Co. owned 0.72% of Assurant worth $41,136,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in Assurant in the 1st quarter valued at about $122,000. State of Alaska Department of Revenue lifted its holdings in Assurant by 6.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 114 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Assurant in the 1st quarter valued at about $213,000. Atria Investments LLC acquired a new stake in Assurant in the 2nd quarter valued at about $214,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Assurant in the 1st quarter valued at about $228,000. 90.78% of the stock is owned by institutional investors.
Shares of Assurant, Inc. (NYSE AIZ) opened at 93.24 on Friday. The firm’s 50-day moving average price is $99.11 and its 200 day moving average price is $99.82. Assurant, Inc. has a 12-month low of $78.50 and a 12-month high of $106.99. The firm has a market cap of $5.02 billion, a P/E ratio of 12.25 and a beta of 0.80.
Assurant (NYSE:AIZ) last released its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.63 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 company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the firm posted $1.42 earnings per share. Assurant’s revenue was down 11.0% compared to the same quarter last year. On average, equities analysts expect that Assurant, Inc. will post $6.60 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 28th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Thursday, August 24th. Assurant’s dividend payout ratio is presently 27.89%.
Separately, BidaskClub downgraded Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th.
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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