Bessemer Group Inc. decreased its stake in Assurant, Inc. (NYSE:AIZ) by 5.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,473 shares of the financial services provider’s stock after selling 1,991 shares during the period. Bessemer Group Inc. owned approximately 0.06% of Assurant worth $3,678,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Teachers Advisors LLC boosted its stake in Assurant by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 75,649 shares of the financial services provider’s stock valued at $7,025,000 after buying an additional 2,832 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Assurant during the fourth quarter valued at $384,000. Macquarie Group Ltd. boosted its stake in Assurant by 3.4% in the fourth quarter. Macquarie Group Ltd. now owns 21,500 shares of the financial services provider’s stock valued at $1,996,000 after buying an additional 700 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in Assurant by 0.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 48,248 shares of the financial services provider’s stock valued at $4,616,000 after buying an additional 321 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its stake in Assurant by 317.1% in the first quarter. Contravisory Investment Management Inc. now owns 1,318 shares of the financial services provider’s stock valued at $126,000 after buying an additional 1,002 shares in the last quarter. 92.37% of the stock is owned by institutional investors and hedge funds.
Shares of Assurant, Inc. (NYSE AIZ) opened at 103.89 on Tuesday. The company’s 50-day moving average is $104.39 and its 200 day moving average is $99.46. Assurant, Inc. has a 52-week low of $78.50 and a 52-week high of $106.99. The company has a market cap of $5.74 billion, a PE ratio of 13.65 and a beta of 0.77.
Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS. On average, analysts anticipate that Assurant, Inc. will post $6.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders 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 yield of 2.04%. Assurant’s payout ratio is presently 27.89%.
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Separately, BidaskClub raised shares of Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $98.33.
In other Assurant news, EVP Christopher J. Pagano sold 7,000 shares of Assurant 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 completion of the transaction, the executive vice president now owns 55,978 shares of the company’s stock, valued at approximately $5,762,375.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by insiders.
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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