Pictet Asset Management Ltd. Sells 2,800 Shares of Assurant, Inc. (AIZ)
Pictet Asset Management Ltd. reduced its position in shares of Assurant, Inc. (NYSE:AIZ) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,062 shares of the financial services provider’s stock after selling 2,800 shares during the period. Pictet Asset Management Ltd. owned about 0.07% of Assurant worth $3,827,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in AIZ. State of Alaska Department of Revenue boosted its holdings in Assurant by 6.2% during the second quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock worth $202,000 after buying an additional 114 shares in the last quarter. Atria Investments LLC purchased a new stake in shares of Assurant in the second quarter valued at about $214,000. Thrivent Financial For Lutherans purchased a new stake in shares of Assurant in the second quarter valued at about $216,000. Achmea Investment Management B.V. purchased a new stake in shares of Assurant in the second quarter valued at about $244,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Assurant during the second quarter valued at approximately $248,000. 91.08% of the stock is owned by institutional investors and hedge funds.
Shares of Assurant, Inc. (AIZ) opened at $98.15 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.53 and a quick ratio of 0.53. Assurant, Inc. has a twelve month low of $82.30 and a twelve month high of $106.99. The firm has a market cap of $5,281.62, a PE ratio of 38.34, a P/E/G ratio of 1.37 and a beta of 0.81.
Assurant (NYSE:AIZ) last released its earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.79) by $0.39. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Assurant had a net margin of 3.67% and a return on equity of 3.55%. Assurant’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. analysts expect that Assurant, Inc. will post 3.69 earnings per share for the current year.
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Several equities analysts recently commented on the stock. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $115.00 price target on shares of Assurant in a research report on Thursday, October 12th. BidaskClub downgraded shares of Assurant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd.
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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