State of Wisconsin Investment Board Has $5.02 Million Position in Assurant, Inc. (AIZ)
State of Wisconsin Investment Board boosted its position in shares of Assurant, Inc. (NYSE:AIZ) by 27.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,390 shares of the financial services provider’s stock after buying an additional 10,320 shares during the period. State of Wisconsin Investment Board owned 0.09% of Assurant worth $5,018,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new position in Assurant during the second quarter worth approximately $1,789,000. Dupont Capital Management Corp raised its position in Assurant by 17.3% in the second quarter. Dupont Capital Management Corp now owns 39,724 shares of the financial services provider’s stock worth $4,119,000 after buying an additional 5,871 shares during the period. Savant Capital LLC raised its position in Assurant by 7.2% in the second quarter. Savant Capital LLC now owns 2,840 shares of the financial services provider’s stock worth $294,000 after buying an additional 190 shares during the period. DekaBank Deutsche Girozentrale raised its position in Assurant by 9.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 7,011 shares of the financial services provider’s stock worth $752,000 after buying an additional 628 shares during the period. Finally, Wedge Capital Management L L P NC raised its position in Assurant by 0.3% in the second quarter. Wedge Capital Management L L P NC now owns 1,161,818 shares of the financial services provider’s stock worth $120,469,000 after buying an additional 3,285 shares during the period. Institutional investors own 90.75% of the company’s stock.
Shares of Assurant, Inc. (AIZ) opened at 94.69 on Friday. Assurant, Inc. has a 12 month low of $78.50 and a 12 month high of $106.99. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 12.44 and a beta of 0.77. The firm’s 50-day moving average is $102.60 and its 200 day moving average is $100.14.
Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 EPS. Equities analysts expect that Assurant, Inc. will post $6.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 28th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, August 24th. Assurant’s dividend payout ratio is 27.89%.
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Separately, BidaskClub lowered shares of Assurant from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd.
In related news, EVP Christopher J. Pagano sold 7,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $102.94, for a total value of $720,580.00. Following the completion of the sale, the executive vice president now directly owns 55,978 shares of the company’s stock, valued at approximately $5,762,375.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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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