Benjamin F. Edwards & Company Inc. increased its holdings in Assurant, Inc. (NYSE:AIZ) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,873 shares of the financial services provider’s stock after buying an additional 981 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Assurant were worth $1,494,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its position in Assurant by 17.7% during the second quarter. Crossmark Global Holdings Inc. now owns 17,680 shares of the financial services provider’s stock valued at $1,881,000 after purchasing an additional 2,664 shares in the last quarter. Surevest Inc. grew its stake in shares of Assurant by 82.1% during the second quarter. Surevest Inc. now owns 12,411 shares of the financial services provider’s stock worth $1,320,000 after buying an additional 5,597 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Assurant by 31.3% during the second quarter. First Citizens Bank & Trust Co. now owns 22,103 shares of the financial services provider’s stock worth $2,351,000 after buying an additional 5,272 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Assurant by 210.3% during the second quarter. Xact Kapitalforvaltning AB now owns 12,100 shares of the financial services provider’s stock worth $1,287,000 after buying an additional 8,200 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Assurant by 22.9% during the second quarter. Oregon Public Employees Retirement Fund now owns 6,641 shares of the financial services provider’s stock worth $706,000 after buying an additional 1,238 shares during the last quarter. Institutional investors own 93.53% of the company’s stock.
A number of analysts have weighed in on the stock. SunTrust Banks boosted their target price on shares of Assurant from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. UBS Group boosted their target price on shares of Assurant from $153.00 to $154.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley boosted their target price on shares of Assurant from $119.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th.
Shares of Assurant stock traded up $0.60 during trading on Wednesday, hitting $129.10. The company’s stock had a trading volume of 350,922 shares, compared to its average volume of 547,600. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.48 and a quick ratio of 0.48. Assurant, Inc. has a 52 week low of $82.31 and a 52 week high of $134.25. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 22.26 and a beta of 0.49. The stock has a 50-day moving average price of $129.07 and a two-hundred day moving average price of $118.18.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $1.69 earnings per share for the quarter, hitting the consensus estimate of $1.69. Assurant had a net margin of 2.76% and a return on equity of 8.09%. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. Assurant’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that Assurant, Inc. will post 8.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 25th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.52 annualized dividend and a yield of 1.95%. Assurant’s payout ratio is 43.45%.
In related news, EVP Tammy L. Schultz sold 1,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $132.00, for a total value of $132,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.68% of the stock is owned by insiders.
Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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