Stratos Wealth Partners LTD. boosted its stake in Assurant, Inc. (NYSE:AIZ) by 29.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,351 shares of the financial services provider’s stock after buying an additional 760 shares during the period. Stratos Wealth Partners LTD.’s holdings in Assurant were worth $347,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in Assurant by 2,736.9% in the first quarter. BlackRock Inc. now owns 3,755,033 shares of the financial services provider’s stock valued at $359,245,000 after buying an additional 3,622,668 shares in the last quarter. AQR Capital Management LLC boosted its position in Assurant by 16.7% in the first quarter. AQR Capital Management LLC now owns 1,931,516 shares of the financial services provider’s stock valued at $184,788,000 after buying an additional 276,789 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in 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 valued at $110,837,000 after buying an additional 651,139 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Assurant by 3.4% in the first quarter. Goldman Sachs Group Inc. now owns 624,069 shares of the financial services provider’s stock valued at $59,705,000 after buying an additional 20,469 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake 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 valued at $55,204,000 after buying an additional 47,086 shares during the last quarter. 90.43% of the stock is currently owned by hedge funds and other institutional investors.
Assurant, Inc. (AIZ) traded down 0.31% on Friday, reaching $100.01. 276,240 shares of the company were exchanged. The firm has a 50-day moving average of $104.42 and a 200 day moving average of $100.02. The firm has a market capitalization of $5.39 billion, a P/E ratio of 13.14 and a beta of 0.77. Assurant, Inc. has a 12-month low of $78.50 and a 12-month high of $106.99.
Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.42 earnings per share. On average, equities analysts predict that Assurant, Inc. will post $6.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 28th will be paid 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 yield of 2.12%. Assurant’s payout ratio is 27.89%.
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Separately, BidaskClub upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $98.33.
In related news, EVP Christopher J. Pagano sold 7,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $102.94, for a total transaction of $720,580.00. Following the completion of the transaction, the executive vice president now directly owns 55,978 shares of the company’s stock, valued at $5,762,375.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.83% of the company’s stock.
Assurant Company Profile
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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