BlackRock Inc. lessened its stake in Assurant, Inc. (NYSE:AIZ) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,147,275 shares of the financial services provider’s stock after selling 83,367 shares during the quarter. BlackRock Inc. owned 6.95% of Assurant worth $503,104,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Raymond James & Associates lifted its holdings in shares of Assurant by 7.6% in the 2nd quarter. Raymond James & Associates now owns 136,142 shares of the financial services provider’s stock valued at $14,062,000 after buying an additional 9,659 shares during the period. Strs Ohio lifted its holdings in shares of Assurant by 26.0% in the 2nd quarter. Strs Ohio now owns 13,848 shares of the financial services provider’s stock valued at $1,430,000 after buying an additional 2,861 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Assurant by 12.2% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,146 shares of the financial services provider’s stock valued at $118,000 after buying an additional 125 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Assurant by 16.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 408,434 shares of the financial services provider’s stock valued at $42,187,000 after buying an additional 57,784 shares during the period. Finally, Dupont Capital Management Corp lifted its holdings in shares of Assurant by 66.3% in the 2nd quarter. Dupont Capital Management Corp now owns 6,323 shares of the financial services provider’s stock valued at $653,000 after buying an additional 2,521 shares during the period. 86.67% of the stock is owned by institutional investors and hedge funds.
In related news, Director J Braxton Carter II purchased 1,950 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average price of $127.80 per share, with a total value of $249,210.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.63% of the stock is currently owned by company insiders.
Assurant (NYSE:AIZ) last released its quarterly earnings results on Saturday, November 7th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. Assurant had a net margin of 4.24% and a return on equity of 9.86%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company earned $1.69 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. Sell-side analysts predict that Assurant, Inc. will post 8.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 21st. Investors of record on Monday, November 30th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a $2.64 dividend on an annualized basis and a yield of 1.97%. This is a boost from Assurant’s previous quarterly dividend of $0.63. Assurant’s dividend payout ratio (DPR) is currently 29.47%.
A number of research firms recently weighed in on AIZ. Morgan Stanley upped their price target on Assurant from $140.00 to $143.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. ValuEngine upgraded Assurant from a “sell” rating to a “hold” rating in a research report on Friday, October 30th.
Assurant Company Profile
Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect, and connect consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Lifestyle, Global Housing, and Global Preneed.
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