Edgestream Partners L.P. bought a new stake in Assurant, Inc. (NYSE:AIZ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,394 shares of the financial services provider’s stock, valued at approximately $248,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bridgewater Associates LP purchased a new stake in Assurant in the first quarter valued at approximately $1,896,000. Canada Pension Plan Investment Board raised its stake in Assurant by 93.8% in the first quarter. Canada Pension Plan Investment Board now owns 7,384 shares of the financial services provider’s stock valued at $706,000 after purchasing an additional 3,574 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Assurant in the second quarter valued at approximately $6,137,000. State of Tennessee Treasury Department raised its stake in Assurant by 59.9% in the second quarter. State of Tennessee Treasury Department now owns 240,130 shares of the financial services provider’s stock valued at $24,899,000 after purchasing an additional 89,925 shares in the last quarter. Finally, Dearborn Partners LLC raised its stake in shares of Assurant by 2.3% during the second quarter. Dearborn Partners LLC now owns 191,553 shares of the financial services provider’s stock worth $19,862,000 after acquiring an additional 4,242 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th.
Assurant, Inc. (NYSE:AIZ) opened at 94.45 on Friday. Assurant, Inc. has a 1-year low of $78.50 and a 1-year high of $106.99. The firm’s 50 day moving average is $98.11 and its 200 day moving average is $99.70. The stock has a market capitalization of $5.09 billion, a P/E ratio of 12.41 and a beta of 0.80.
Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $1.42 EPS. On average, equities research analysts anticipate that Assurant, Inc. will post $6.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, August 24th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.24%. Assurant’s dividend payout ratio is currently 27.89%.
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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