Russell Investments Group Ltd. grew its position in Assurant, Inc. (NYSE:AIZ) by 50.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 314,674 shares of the financial services provider’s stock after acquiring an additional 106,129 shares during the period. Russell Investments Group Ltd. owned about 0.58% of Assurant worth $30,053,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of AIZ. Teachers Advisors LLC raised its position in shares of Assurant by 1.1% in the first quarter. Teachers Advisors LLC now owns 76,470 shares of the financial services provider’s stock worth $7,316,000 after acquiring an additional 821 shares during the period. Bank of Montreal Can raised its position in shares of Assurant by 40.8% in the second quarter. Bank of Montreal Can now owns 36,358 shares of the financial services provider’s stock worth $3,770,000 after acquiring an additional 10,536 shares during the period. NN Investment Partners Holdings N.V. raised its position in shares of Assurant by 958.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 4,213 shares of the financial services provider’s stock worth $437,000 after acquiring an additional 3,815 shares during the period. State of Alaska Department of Revenue raised its position in shares of Assurant by 6.2% in the second quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock worth $202,000 after acquiring an additional 114 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Assurant by 478.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 9,033 shares of the financial services provider’s stock worth $937,000 after acquiring an additional 7,471 shares during the period. Institutional investors and hedge funds own 90.92% of the company’s stock.
AIZ has been the subject of a number of analyst reports. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $115.00 price objective on shares of Assurant in a research report on Thursday, October 12th. BidaskClub downgraded shares of Assurant from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd.
Assurant (NYSE:AIZ) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share for the quarter, topping the consensus estimate of ($1.79) by $0.39. Assurant had a net margin of 3.67% and a return on equity of 3.55%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. analysts forecast that Assurant, Inc. will post 3.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, November 27th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, November 24th. This is an increase from Assurant’s previous quarterly dividend of $0.53. Assurant’s dividend payout ratio is 50.72%.
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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