Prudential Financial Inc. boosted its stake in shares of Assurant, Inc. (NYSE:AIZ) by 410.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 408,459 shares of the financial services provider’s stock after buying an additional 328,490 shares during the period. Prudential Financial Inc. owned about 0.74% of Assurant worth $42,353,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Advisors Preferred LLC purchased a new position in Assurant during the first quarter valued at $104,000. Ameritas Investment Partners Inc. purchased a new position in Assurant during the first quarter valued at $122,000. State of Alaska Department of Revenue raised its position in Assurant by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 1,836 shares of the financial services provider’s stock valued at $175,000 after buying an additional 91 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in Assurant during the first quarter valued at $213,000. Finally, Atria Investments LLC purchased a new position in Assurant during the second quarter valued at $214,000. Institutional investors own 90.75% of the company’s stock.

Assurant, Inc. (NYSE AIZ) opened at 94.78 on Thursday. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 12.46 and a beta of 0.77. The firm has a 50-day moving average of $103.70 and a 200 day moving average of $100.08. Assurant, Inc. has a 12-month low of $78.50 and a 12-month high of $106.99.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.05. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.42 EPS. On average, equities analysts predict that Assurant, Inc. will post $6.25 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Monday, August 28th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $2.12 annualized dividend and a yield of 2.24%. Assurant’s payout ratio is presently 27.89%.

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Separately, BidaskClub upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Friday, June 30th.

In other Assurant news, EVP Christopher J. Pagano sold 7,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the sale, the executive vice president now owns 55,978 shares in the company, valued at approximately $5,762,375.32. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.83% of the stock is currently owned by insiders.

About Assurant

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).

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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