Janney Montgomery Scott LLC cut its position in shares of Assurant, Inc. (NYSE:AIZ) by 28.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,248 shares of the financial services provider’s stock after selling 5,582 shares during the period. Janney Montgomery Scott LLC’s holdings in Assurant were worth $1,361,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AIZ. State of Tennessee Treasury Department raised its position in shares of Assurant by 59.9% in the 2nd quarter. State of Tennessee Treasury Department now owns 240,130 shares of the financial services provider’s stock worth $24,899,000 after acquiring an additional 89,925 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Assurant in the 2nd quarter worth $6,137,000. Dearborn Partners LLC raised its position in shares of Assurant by 2.3% in the 2nd quarter. Dearborn Partners LLC now owns 191,553 shares of the financial services provider’s stock worth $19,862,000 after acquiring an additional 4,242 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of Assurant by 27.1% in the 2nd quarter. State of Wisconsin Investment Board now owns 48,390 shares of the financial services provider’s stock worth $5,018,000 after acquiring an additional 10,320 shares in the last quarter. Finally, PGGM Investments raised its position in shares of Assurant by 426.6% in the 3rd quarter. PGGM Investments now owns 186,407 shares of the financial services provider’s stock worth $17,806,000 after acquiring an additional 151,006 shares in the last quarter. 90.29% of the stock is owned by institutional investors and hedge funds.
Assurant, Inc. (NYSE:AIZ) traded down $0.40 on Friday, hitting $95.39. The stock had a trading volume of 430,933 shares, compared to its average volume of 419,933. Assurant, Inc. has a 52-week low of $86.00 and a 52-week high of $106.99. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.26. The company has a market cap of $5,160.00, a price-to-earnings ratio of 22.82, a price-to-earnings-growth ratio of 0.72 and a beta of 0.78.
Assurant (NYSE:AIZ) last announced its earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $1.00 EPS. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. research analysts forecast that Assurant, Inc. will post 3.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Monday, November 27th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.35%. This is an increase from Assurant’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 24th. Assurant’s payout ratio is 53.59%.
Separately, SunTrust Banks reissued a “buy” rating and issued a $115.00 price target on shares of Assurant in a research report on Thursday, October 12th.
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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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