Andra AP fonden acquired a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 60,300 shares of the financial services provider’s stock, valued at approximately $5,723,000. Andra AP fonden owned about 0.10% of Assurant as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in AIZ. Philadelphia Financial Management of San Francisco LLC boosted its holdings in shares of Assurant by 31.5% in the fourth quarter. Philadelphia Financial Management of San Francisco LLC now owns 185,981 shares of the financial services provider’s stock worth $16,634,000 after buying an additional 44,586 shares during the last quarter. IFM Investors Pty Ltd raised its stake in Assurant by 9.6% during the 1st quarter. IFM Investors Pty Ltd now owns 3,185 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 280 shares during the period. NumerixS Investment Technologies Inc raised its stake in Assurant by 168.4% during the 1st quarter. NumerixS Investment Technologies Inc now owns 7,800 shares of the financial services provider’s stock worth $740,000 after acquiring an additional 4,894 shares during the period. Prudential Financial Inc. raised its stake in Assurant by 0.9% during the 4th quarter. Prudential Financial Inc. now owns 58,700 shares of the financial services provider’s stock worth $5,250,000 after acquiring an additional 519 shares during the period. Finally, California Public Employees Retirement System raised its stake in Assurant by 6.6% during the 1st quarter. California Public Employees Retirement System now owns 383,098 shares of the financial services provider’s stock worth $36,360,000 after acquiring an additional 23,732 shares during the period. 91.01% of the stock is currently owned by institutional investors.
Separately, UBS Group reduced their price objective on shares of Assurant to $124.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $128.00.
Assurant (NYSE:AIZ) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $2.21 EPS for the quarter, topping the consensus estimate of $2.13 by $0.08. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.30 billion. Assurant had a net margin of 3.46% and a return on equity of 7.23%. Assurant’s quarterly revenue was up 48.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.14 earnings per share. On average, research analysts expect that Assurant, Inc. will post 8.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, May 24th. Assurant’s payout ratio is 41.38%.
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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