Assurant, Inc. (NYSE:AIZ) Shares Sold by Capstone Asset Management Co.
Capstone Asset Management Co. cut its position in Assurant, Inc. (NYSE:AIZ) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,746 shares of the financial services provider’s stock after selling 440 shares during the period. Capstone Asset Management Co.’s holdings in Assurant were worth $1,840,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new stake in Assurant during the first quarter worth $104,000. Ameritas Investment Partners Inc. acquired a new stake in Assurant during the first quarter worth $122,000. Contravisory Investment Management Inc. raised its stake in Assurant by 317.1% in the first quarter. Contravisory Investment Management Inc. now owns 1,318 shares of the financial services provider’s stock worth $126,000 after buying an additional 1,002 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Assurant by 1.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,653 shares of the financial services provider’s stock worth $154,000 after buying an additional 29 shares during the period. Finally, Federated Investors Inc. PA raised its stake in Assurant by 374.3% in the fourth quarter. Federated Investors Inc. PA now owns 1,845 shares of the financial services provider’s stock worth $171,000 after buying an additional 1,456 shares during the period. 92.25% of the stock is owned by institutional investors.
Shares of Assurant, Inc. (NYSE:AIZ) opened at 104.63 on Monday. Assurant, Inc. has a 52-week low of $78.50 and a 52-week high of $106.47. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 12.76 and a beta of 0.77. The firm’s 50 day moving average is $101.23 and its 200 day moving average is $97.56.
Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.36. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Assurant had a return on equity of 6.51% and a net margin of 7.05%. Equities analysts expect that Assurant, Inc. will post $6.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 20th. Stockholders of record on Tuesday, May 30th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Thursday, May 25th. Assurant’s payout ratio is presently 26.04%.
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Separately, BidaskClub raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $97.50.
In other news, EVP Christopher J. Pagano sold 7,000 shares of Assurant stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $102.94, for a total value of $720,580.00. Following the completion of the transaction, the executive vice president now owns 55,978 shares in the company, valued at approximately $5,762,375.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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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