DnB Asset Management AS boosted its stake in Assurant, Inc. (NYSE:AIZ) by 26.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 50,713 shares of the financial services provider’s stock after purchasing an additional 10,500 shares during the quarter. DnB Asset Management AS’s holdings in Assurant were worth $5,114,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in AIZ. Schwab Charles Investment Management Inc. grew its stake in Assurant by 2.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 286,756 shares of the financial services provider’s stock valued at $29,734,000 after acquiring an additional 6,030 shares during the period. American Century Companies Inc. acquired a new stake in Assurant in the 2nd quarter valued at $588,000. Principal Financial Group Inc. grew its stake in Assurant by 10.4% in the 2nd quarter. Principal Financial Group Inc. now owns 85,291 shares of the financial services provider’s stock valued at $8,844,000 after acquiring an additional 8,037 shares during the period. JPMorgan Chase & Co. grew its stake in Assurant by 49.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 396,718 shares of the financial services provider’s stock valued at $41,136,000 after acquiring an additional 130,649 shares during the period. Finally, Commonwealth Bank of Australia grew its stake in Assurant by 1.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 13,804 shares of the financial services provider’s stock valued at $1,431,000 after acquiring an additional 200 shares during the period. 90.29% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Assurant, Inc. (NYSE:AIZ) opened at $95.79 on Friday. Assurant, Inc. has a one year low of $86.00 and a one year 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 stock has a market cap of $5,150.00, a price-to-earnings ratio of 22.92, 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 (EPS) for the quarter, topping the consensus estimate of ($1.79) by $0.39. Assurant had a net margin of 3.67% and a return on equity of 3.55%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. sell-side analysts forecast that Assurant, Inc. will post 3.69 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 18th. Shareholders 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 2.34%. The ex-dividend date was Friday, November 24th. This is a boost from Assurant’s previous quarterly dividend of $0.53. 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 note on Thursday, October 12th.

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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).

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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