Putnam Investments LLC raised its holdings in Assurant, Inc. (NYSE:AIZ) by 56.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,177 shares of the financial services provider’s stock after purchasing an additional 32,961 shares during the period. Putnam Investments LLC owned about 0.17% of Assurant worth $9,436,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Zurich Insurance Group Ltd FI acquired a new stake in shares of Assurant during the 2nd quarter valued at approximately $1,087,000. State Board of Administration of Florida Retirement System increased its position in Assurant by 2.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 70,869 shares of the financial services provider’s stock worth $7,334,000 after buying an additional 1,820 shares during the period. Commonwealth Bank of Australia increased its position in Assurant by 13.2% in the second quarter. Commonwealth Bank of Australia now owns 13,734 shares of the financial services provider’s stock worth $1,417,000 after buying an additional 1,600 shares during the period. USS Investment Management Ltd grew its stake in shares of Assurant by 35.8% in the second quarter. USS Investment Management Ltd now owns 310,900 shares of the financial services provider’s stock worth $32,175,000 after purchasing an additional 81,900 shares in the last quarter. Finally, Laurion Capital Management LP grew its stake in shares of Assurant by 24.7% in the second quarter. Laurion Capital Management LP now owns 12,625 shares of the financial services provider’s stock worth $1,306,000 after purchasing an additional 2,504 shares in the last quarter. 93.57% of the stock is currently owned by institutional investors.
Shares of NYSE:AIZ traded down $0.78 during midday trading on Friday, reaching $102.37. The company had a trading volume of 495,577 shares, compared to its average volume of 690,403. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 25.72 and a beta of 0.48. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 1-year low of $84.34 and a 1-year high of $111.43.
Several research analysts have recently issued reports on AIZ shares. UBS Group increased their price target on Assurant from $118.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $125.00 price target on shares of Assurant in a research note on Wednesday, August 8th. ValuEngine raised Assurant from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. SunTrust Banks increased their price target on Assurant to $129.00 and gave the company an “outperform” rating in a research report on Wednesday, July 11th. They noted that the move was a valuation call. Finally, Morgan Stanley started coverage on Assurant in a research report on Tuesday, July 10th. They issued an “overweight” rating and a $125.00 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $128.75.
In other news, EVP Christopher J. Pagano sold 1,250 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $102.49, for a total transaction of $128,112.50. Following the completion of the sale, the executive vice president now directly owns 56,843 shares of the company’s stock, valued at approximately $5,825,839.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Gene Mergelmeyer sold 14,144 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $109.41, for a total value of $1,547,495.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,215,394 shares of company stock valued at $228,135,608. Company insiders own 0.93% of the company’s stock.
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; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.
Featured Article: What is a conference call?
Receive News & Ratings for Assurant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Assurant and related companies with MarketBeat.com's FREE daily email newsletter.