State Street Corp cut its position in Assurant, Inc. (NYSE:AIZ) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,988,200 shares of the financial services provider’s stock after selling 60,479 shares during the period. State Street Corp owned about 5.45% of Assurant worth $285,888,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Assurant by 2,736.9% in the first quarter. BlackRock Inc. now owns 3,755,033 shares of the financial services provider’s stock worth $359,245,000 after buying an additional 3,622,668 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Assurant by 128.3% in the first quarter. Wedge Capital Management L L P NC now owns 1,158,533 shares of the financial services provider’s stock worth $110,837,000 after buying an additional 651,139 shares in the last quarter. Norges Bank purchased a new position in shares of Assurant during the fourth quarter worth approximately $59,506,000. Geode Capital Management LLC increased its position in shares of Assurant by 8.9% in the first quarter. Geode Capital Management LLC now owns 577,824 shares of the financial services provider’s stock worth $55,204,000 after buying an additional 47,086 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Assurant by 8.0% in the first quarter. UBS Asset Management Americas Inc. now owns 520,058 shares of the financial services provider’s stock worth $49,754,000 after buying an additional 38,416 shares in the last quarter. Institutional investors and hedge funds own 92.25% of the company’s stock.
Shares of Assurant, Inc. (NYSE:AIZ) opened at 104.54 on Wednesday. Assurant, Inc. has a 12 month low of $78.50 and a 12 month high of $106.47. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 12.75 and a beta of 0.77. The company has a 50-day moving average price of $102.66 and a 200-day moving average price of $98.70.
Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, May 2nd. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.36. Assurant had a return on equity of 6.51% and a net margin of 7.05%. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.62 billion. On average, analysts expect that Assurant, Inc. will post $6.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, May 25th. Assurant’s dividend payout ratio (DPR) is 26.04%.
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Separately, BidaskClub downgraded shares of Assurant from a “buy” rating to a “hold” rating in a report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Assurant currently has a consensus rating of “Hold” and a consensus target price of $98.33.
In other Assurant news, EVP Christopher J. Pagano sold 7,000 shares of Assurant stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the transaction, the executive vice president now owns 55,978 shares of the company’s stock, valued at $5,762,375.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.83% of the company’s stock.
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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