Assurant, Inc. (AIZ) Stake Decreased by TD Asset Management Inc.
TD Asset Management Inc. decreased its stake in Assurant, Inc. (NYSE:AIZ) by 29.6% during the second quarter, Holdings Channel reports. The institutional investor owned 50,277 shares of the financial services provider’s stock after selling 21,112 shares during the period. TD Asset Management Inc.’s holdings in Assurant were worth $5,213,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Savant Capital LLC boosted its position in Assurant by 0.4% in the first quarter. Savant Capital LLC now owns 2,650 shares of the financial services provider’s stock valued at $254,000 after buying an additional 10 shares in the last quarter. ProShare Advisors LLC boosted its position in Assurant by 0.4% in the first quarter. ProShare Advisors LLC now owns 12,937 shares of the financial services provider’s stock valued at $1,238,000 after buying an additional 56 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Assurant by 0.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,216 shares of the financial services provider’s stock valued at $593,000 after buying an additional 58 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in Assurant by 1.2% in the first quarter. GHP Investment Advisors Inc. now owns 5,468 shares of the financial services provider’s stock valued at $523,000 after buying an additional 64 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted 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 in the last quarter. 90.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Assurant, Inc. (AIZ) opened at 100.01 on Friday. Assurant, Inc. has a 12-month low of $78.50 and a 12-month high of $106.99. The company has a 50 day moving average of $104.42 and a 200-day moving average of $100.02. The company has a market cap of $5.39 billion, a PE ratio of 13.14 and a beta of 0.77.
Assurant (NYSE:AIZ) last issued its earnings results 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. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the company posted $1.42 earnings per share. The firm’s quarterly revenue was down 11.0% on a year-over-year basis. Equities research analysts anticipate that Assurant, Inc. will post $6.56 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 28th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.12%. The ex-dividend date is Thursday, August 24th. Assurant’s dividend payout ratio is currently 27.89%.
Separately, BidaskClub cut shares of Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Assurant has a consensus rating of “Hold” and an average target price of $98.33.
In related news, EVP Christopher J. Pagano sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $97.75, for a total value of $195,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christopher J. Pagano sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the completion of the sale, the executive vice president now owns 55,978 shares in the company, valued at approximately $5,762,375.32. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.
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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