BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Assurant, Inc. (NYSE:AIZ) by 11.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,743 shares of the financial services provider’s stock after purchasing an additional 1,096 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Assurant were worth $1,678,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AIZ. Captrust Financial Advisors lifted its holdings in shares of Assurant by 1,095.7% during the first quarter. Captrust Financial Advisors now owns 550 shares of the financial services provider’s stock worth $78,000 after buying an additional 504 shares in the last quarter. CSat Investment Advisory L.P. increased its holdings in shares of Assurant by 35.5% during the first quarter. CSat Investment Advisory L.P. now owns 764 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 200 shares during the period. Valley National Advisers Inc. increased its holdings in shares of Assurant by 863.0% during the first quarter. Valley National Advisers Inc. now owns 963 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 863 shares during the period. PGGM Investments acquired a new stake in shares of Assurant in the second quarter valued at approximately $177,000. Finally, US Bancorp DE boosted its stake in shares of Assurant by 8.1% in the second quarter. US Bancorp DE now owns 1,315 shares of the financial services provider’s stock valued at $205,000 after buying an additional 99 shares during the period. 95.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on AIZ. Morgan Stanley upped their target price on Assurant from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, August 16th. William Blair began coverage on shares of Assurant in a research report on Friday, July 23rd. They set an “outperform” rating and a $152.41 price objective for the company. Finally, Bank of America started coverage on shares of Assurant in a report on Friday, May 21st. They issued a “buy” rating and a $207.00 target price on the stock.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Monday, August 2nd. The financial services provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.50. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.38 billion. Assurant had a net margin of 4.74% and a return on equity of 9.05%. On average, analysts anticipate that Assurant, Inc. will post 9.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 21st. Shareholders of record on Monday, August 30th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Friday, August 27th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.64%. Assurant’s payout ratio is presently 30.59%.
Assurant, Inc engages in the provision of risk management solutions. It operates through the following segments: Global Housing, Global Lifestyle and Global Preneed. The Global Housing segment provides lender-placed homeowners, multi-family housing and mortgage solutions. The Global Lifestyle segment offers mobile device protection products, related & extended service products and related services for consumer electronics & appliances, vehicle protection services, and credit insurance.
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