Municipal Employees Retirement System of Michigan raised its position in Assurant, Inc. (NYSE:AIZ) by 14.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,180 shares of the financial services provider’s stock after buying an additional 1,130 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Assurant were worth $926,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. Rockland Trust Co. boosted its holdings in Assurant by 5.6% in the 4th quarter. Rockland Trust Co. now owns 10,410 shares of the financial services provider’s stock worth $1,050,000 after buying an additional 553 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Assurant by 2.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 25,026 shares of the financial services provider’s stock worth $2,390,000 after purchasing an additional 695 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Assurant by 9.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 8,465 shares of the financial services provider’s stock worth $854,000 after purchasing an additional 766 shares in the last quarter. GHP Investment Advisors Inc. lifted its stake in Assurant by 10.1% in the 4th quarter. GHP Investment Advisors Inc. now owns 8,434 shares of the financial services provider’s stock worth $850,000 after purchasing an additional 774 shares in the last quarter. Finally, Burney Co. lifted its stake in Assurant by 0.9% in the 4th quarter. Burney Co. now owns 99,512 shares of the financial services provider’s stock worth $10,035,000 after purchasing an additional 841 shares in the last quarter. Institutional investors own 92.95% of the company’s stock.
AIZ has been the topic of a number of research reports. UBS initiated coverage on shares of Assurant in a research note on Friday, March 2nd. They issued a “buy” rating and a $127.00 target price on the stock. ValuEngine raised shares of Assurant from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th.
Assurant stock opened at $91.01 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.25. Assurant, Inc. has a 12 month low of $84.34 and a 12 month high of $106.99. The firm has a market cap of $4,771.59, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 0.59 and a beta of 0.63.
Assurant (NYSE:AIZ) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.26. Assurant had a net margin of 8.10% and a return on equity of 5.24%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company posted $0.54 EPS. The business’s revenue was down 4.3% on a year-over-year basis. sell-side analysts predict that Assurant, Inc. will post 7.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Monday, February 26th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, February 23rd. 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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