Schwab Charles Investment Management Inc. Raises Holdings in Assurant, Inc. (AIZ)
Schwab Charles Investment Management Inc. grew its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 1.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 289,668 shares of the financial services provider’s stock after purchasing an additional 2,912 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.54% of Assurant worth $27,670,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Thrivent Financial For Lutherans purchased a new stake in shares of Assurant in the second quarter worth about $216,000. Achmea Investment Management B.V. purchased a new stake in shares of Assurant in the second quarter worth about $244,000. Edgestream Partners L.P. purchased a new stake in shares of Assurant in the second quarter worth about $248,000. Trexquant Investment LP purchased a new stake in shares of Assurant in the third quarter worth about $258,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Assurant in the second quarter worth about $283,000. Hedge funds and other institutional investors own 90.48% of the company’s stock.
A number of brokerages have recently issued reports on AIZ. BidaskClub downgraded shares of Assurant from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. SunTrust Banks reissued a “buy” rating and issued a $115.00 price target on shares of Assurant in a report on Thursday, October 12th.
Shares of Assurant, Inc. (AIZ) opened at $100.30 on Wednesday. The firm has a market cap of $5,374.71, a P/E ratio of 39.02, a P/E/G ratio of 1.40 and a beta of 0.78. 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 one year low of $86.00 and a one year high of $106.99.
Assurant (NYSE:AIZ) last announced its earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.79) by $0.39. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate 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 period last year, the firm posted $1.00 earnings per share. equities analysts anticipate that Assurant, Inc. will post 3.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, November 27th will be paid a $0.56 dividend. This is an increase from Assurant’s previous quarterly dividend of $0.53. This represents a $2.24 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Friday, November 24th. Assurant’s dividend payout ratio (DPR) is currently 53.59%.
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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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