Shell Asset Management Co. Has $376,000 Stake in Assurant, Inc. (AIZ)
Shell Asset Management Co. continued to hold its position in shares of Assurant, Inc. (NYSE:AIZ) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,628 shares of the financial services provider’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Assurant were worth $376,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Preferred LLC acquired a new position in shares of Assurant during the first quarter worth about $104,000. Ameritas Investment Partners Inc. acquired a new position in shares of Assurant during the first quarter worth about $122,000. State of Alaska Department of Revenue increased its position 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 position in shares of Assurant during the first quarter worth about $213,000. Finally, Atria Investments LLC acquired a new position in shares of Assurant during the second quarter worth about $214,000. 90.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Assurant, Inc. (NYSE AIZ) opened at 103.34 on Wednesday. The stock has a market cap of $5.57 billion, a PE ratio of 13.58 and a beta of 0.77. The company’s 50-day moving average price is $104.70 and its 200-day moving average price is $99.98. Assurant, Inc. has a 52-week low of $78.50 and a 52-week high of $106.99.
Assurant (NYSE:AIZ) last posted its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.05. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. On average, equities research analysts forecast that Assurant, Inc. will post $6.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.05%. Assurant’s payout ratio is 27.89%.
Separately, BidaskClub upgraded Assurant from a “hold” rating to a “buy” rating in a research 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. Assurant presently has a consensus rating of “Hold” and an average price target of $98.33.
In other Assurant 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 transaction of $720,580.00. Following the completion of the sale, the executive vice president now owns 55,978 shares of the company’s stock, valued at approximately $5,762,375.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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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