Sei Investments Co. Raises Stake in Assurant, Inc. (NYSE:AIZ)
Sei Investments Co. raised its position in Assurant, Inc. (NYSE:AIZ) by 10.9% during the second quarter, Holdings Channel reports. The fund owned 63,274 shares of the financial services provider’s stock after buying an additional 6,202 shares during the period. Sei Investments Co.’s holdings in Assurant were worth $6,561,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of AIZ. Advisors Preferred LLC acquired a new stake in shares of Assurant during the first quarter worth $104,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Assurant during the first quarter worth $122,000. State of Alaska Department of Revenue boosted its stake in shares of 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 worth $175,000 after buying an additional 91 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in shares of Assurant during the first quarter worth $213,000. Finally, Atria Investments LLC acquired a new stake in shares of Assurant during the second quarter worth $214,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.
Shares of Assurant, Inc. (NYSE:AIZ) opened at 104.23 on Tuesday. The company has a market capitalization of $5.62 billion, a PE ratio of 13.70 and a beta of 0.77. Assurant, Inc. has a one year low of $78.50 and a one year high of $106.99. The company’s 50-day moving average is $104.71 and its 200-day moving average is $99.94.
Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.63 EPS for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the company earned $1.42 EPS. Assurant’s revenue was down 11.0% on a year-over-year basis. Equities analysts predict that Assurant, Inc. will post $6.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, August 24th. Assurant’s dividend payout ratio is 27.89%.
Separately, BidaskClub upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $98.33.
In other news, EVP Christopher J. Pagano sold 7,000 shares of Assurant stock in a transaction that occurred on Thursday, June 15th. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.83% of the stock is owned by insiders.
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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