Teacher Retirement System of Texas reduced its position in shares of Assurant, Inc. (NYSE:AIZ) by 58.2% in the first quarter, HoldingsChannel reports. The firm owned 21,566 shares of the financial services provider’s stock after selling 29,986 shares during the period. Teacher Retirement System of Texas’ holdings in Assurant were worth $2,047,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIZ. Vanguard Group Inc grew its position in shares of Assurant by 2.1% during the 3rd quarter. Vanguard Group Inc now owns 5,653,635 shares of the financial services provider’s stock valued at $610,310,000 after purchasing an additional 113,694 shares in the last quarter. Strs Ohio grew its position in shares of Assurant by 9.0% during the 4th quarter. Strs Ohio now owns 6,043 shares of the financial services provider’s stock valued at $540,000 after purchasing an additional 501 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Assurant by 12.6% during the 4th quarter. IFM Investors Pty Ltd now owns 2,905 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 325 shares in the last quarter. Calamos Advisors LLC grew its position in shares of Assurant by 17.2% during the 4th quarter. Calamos Advisors LLC now owns 69,467 shares of the financial services provider’s stock valued at $6,213,000 after purchasing an additional 10,190 shares in the last quarter. Finally, GWM Advisors LLC grew its position in shares of Assurant by 17.5% during the 4th quarter. GWM Advisors LLC now owns 99,968 shares of the financial services provider’s stock valued at $8,941,000 after purchasing an additional 14,901 shares in the last quarter. Hedge funds and other institutional investors own 92.71% of the company’s stock.
Shares of NYSE AIZ traded up $4.72 during mid-day trading on Tuesday, reaching $100.80. 310,993 shares of the company were exchanged, compared to its average volume of 607,647. Assurant, Inc. has a 52 week low of $82.31 and a 52 week high of $111.43. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $5.82 billion, a P/E ratio of 17.38 and a beta of 0.62.
Assurant (NYSE:AIZ) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.08. Assurant had a net margin of 3.46% and a return on equity of 7.23%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the firm posted $2.14 EPS. The firm’s revenue was up 48.6% compared to the same quarter last year. As a group, analysts forecast that Assurant, Inc. will post 8.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, May 24th. Assurant’s dividend payout ratio is currently 41.38%.
Separately, UBS Group lifted their price objective on shares of Assurant to $133.00 and gave the stock a “buy” rating in a report on Tuesday. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $128.00.
In other news, insider Tpg Advisors Vi-Aiv, Inc. sold 7,869,230 shares of Assurant stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $98.15, for a total transaction of $772,364,924.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.68% of the company’s stock.
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Assurant Company Profile
Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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