Wedge Capital Management L L P NC increased its stake in Assurant, Inc. (NYSE:AIZ) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,209,618 shares of the financial services provider’s stock after acquiring an additional 14,784 shares during the quarter. Assurant comprises 1.1% of Wedge Capital Management L L P NC’s holdings, making the stock its 19th largest position. Wedge Capital Management L L P NC’s holdings in Assurant were worth $121,978,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of AIZ. Janus Henderson Group PLC increased its stake in Assurant by 9,105.8% in the 2nd quarter. Janus Henderson Group PLC now owns 635,659 shares of the financial services provider’s stock worth $65,912,000 after buying an additional 628,754 shares during the period. Assenagon Asset Management S.A. purchased a new position in Assurant during the 3rd quarter valued at about $16,747,000. PGGM Investments increased its position in Assurant by 426.6% during the 3rd quarter. PGGM Investments now owns 186,407 shares of the financial services provider’s stock valued at $17,806,000 after purchasing an additional 151,006 shares during the period. Russell Investments Group Ltd. increased its position in Assurant by 50.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 314,674 shares of the financial services provider’s stock valued at $30,053,000 after purchasing an additional 106,129 shares during the period. Finally, Bank of Montreal Can increased its position in Assurant by 412.6% during the 4th quarter. Bank of Montreal Can now owns 124,076 shares of the financial services provider’s stock valued at $12,512,000 after purchasing an additional 99,872 shares during the period. 92.69% of the stock is currently owned by institutional investors.
Separately, SunTrust Banks reissued a “buy” rating and set a $115.00 target price on shares of Assurant in a research report on Thursday, October 12th.
Assurant (NYSE:AIZ) last posted its earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.79) by $0.39. Assurant had a net margin of 3.67% and a return on equity of 3.55%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the firm posted $1.00 EPS. The company’s revenue for the quarter was down 13.5% on a year-over-year basis. equities research analysts expect that Assurant, Inc. will post 3.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Monday, February 26th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, February 23rd. Assurant’s dividend payout ratio is currently 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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