Steward Partners Investment Advisory LLC purchased a new stake in Assurant, Inc. (NYSE:AIZ) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,613 shares of the financial services provider’s stock, valued at approximately $154,000.
Several other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in Assurant by 2.9% during the third quarter. Public Employees Retirement System of Ohio now owns 25,026 shares of the financial services provider’s stock worth $2,390,000 after acquiring an additional 695 shares in the last quarter. GSA Capital Partners LLP increased its position in Assurant by 20.3% during the third quarter. GSA Capital Partners LLP now owns 5,419 shares of the financial services provider’s stock worth $518,000 after buying an additional 916 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Assurant by 8.1% in the third quarter. California Public Employees Retirement System now owns 217,047 shares of the financial services provider’s stock valued at $20,732,000 after purchasing an additional 16,346 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Assurant in the third quarter valued at approximately $829,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Assurant in the third quarter valued at approximately $611,000. Institutional investors own 90.29% of the company’s stock.
Separately, SunTrust Banks reaffirmed a “buy” rating and issued a $115.00 target price on shares of Assurant in a research report on Thursday, October 12th.
Assurant (NYSE:AIZ) last issued its quarterly earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.79) by $0.39. Assurant had a return on equity of 3.55% and a net margin of 3.67%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. The firm’s quarterly revenue was down 13.5% compared to the same quarter last year. analysts forecast that Assurant, Inc. will post 3.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 18th. Stockholders of record on Monday, November 27th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from Assurant’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 24th. Assurant’s dividend payout ratio is presently 53.59%.
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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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