Jefferies Group LLC lowered its stake in shares of Assurant, Inc. (NYSE:AIZ) by 79.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,024 shares of the financial services provider’s stock after selling 38,651 shares during the period. Jefferies Group LLC’s holdings in Assurant were worth $1,011,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new stake in shares of Assurant during the fourth quarter worth about $128,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Assurant during the third quarter worth about $154,000. Ifrah Financial Services Inc. purchased a new stake in shares of Assurant during the fourth quarter worth about $204,000. Koch Industries Inc. purchased a new stake in shares of Assurant during the fourth quarter worth about $206,000. Finally, Stifel Financial Corp purchased a new stake in shares of Assurant during the third quarter worth about $207,000. 92.97% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on AIZ shares. UBS started coverage on shares of Assurant in a research note on Friday, March 2nd. They set a “buy” rating and a $127.00 target price for the company. ValuEngine raised shares of Assurant from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th.
Assurant, Inc. (NYSE:AIZ) opened at $89.93 on Friday. The firm has a market cap of $4,664.01, a PE ratio of 22.56, a P/E/G ratio of 0.58 and a beta of 0.63. Assurant, Inc. has a 52-week low of $84.34 and a 52-week high of $106.99. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.55 and a current ratio of 0.55.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.26. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.59 billion. Assurant had a net margin of 8.10% and a return on equity of 5.24%. Assurant’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. analysts anticipate that Assurant, Inc. will post 7.93 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Monday, February 26th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $2.24 dividend on an annualized basis and a yield of 2.49%. Assurant’s payout ratio is presently 23.83%.
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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