Forsta AP Fonden cut its position in shares of Assurant, Inc. (NYSE:AIZ) by 16.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 314,794 shares of the financial services provider’s stock after selling 62,477 shares during the period. Forsta AP Fonden owned approximately 0.57% of Assurant worth $32,641,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Korea Investment CORP purchased a new position in Assurant during the first quarter worth about $3,559,000. Nationwide Fund Advisors raised its position in Assurant by 68.0% in the first quarter. Nationwide Fund Advisors now owns 142,398 shares of the financial services provider’s stock worth $13,623,000 after buying an additional 57,644 shares during the period. State of Alaska Department of Revenue raised its position in Assurant by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 1,836 shares of the financial services provider’s stock worth $175,000 after buying an additional 91 shares during the period. Nisa Investment Advisors LLC raised its position in Assurant by 20.0% in the first quarter. Nisa Investment Advisors LLC now owns 42,430 shares of the financial services provider’s stock worth $4,059,000 after buying an additional 7,080 shares during the period. Finally, Telemus Capital LLC raised its position in Assurant by 16.9% in the first quarter. Telemus Capital LLC now owns 3,677 shares of the financial services provider’s stock worth $352,000 after buying an additional 532 shares during the period. Institutional investors own 90.43% of the company’s stock.
Shares of Assurant, Inc. (NYSE:AIZ) traded down 0.31% on Friday, hitting $100.01. 276,240 shares of the stock traded hands. Assurant, Inc. has a one year low of $78.50 and a one year high of $106.99. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 13.14 and a beta of 0.77. The company’s 50 day moving average is $104.42 and its 200 day moving average is $100.02.
Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The firm’s revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 EPS. On average, equities analysts forecast that Assurant, Inc. will post $6.56 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $2.12 annualized dividend and a dividend yield of 2.12%. Assurant’s dividend payout ratio is 27.89%.
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Separately, BidaskClub lowered shares of Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $98.33.
In other news, EVP Christopher J. Pagano sold 7,000 shares of Assurant stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the completion of the sale, the executive vice president now directly owns 55,978 shares in the company, valued at approximately $5,762,375.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.83% of the stock is owned by insiders.
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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