Burney Co. decreased its holdings in shares of Assurant (NYSE:AIZ) by 69.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,118 shares of the financial services provider’s stock after selling 69,394 shares during the quarter. Burney Co.’s holdings in Assurant were worth $2,753,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in AIZ. Cerebellum GP LLC purchased a new stake in Assurant during the fourth quarter valued at $128,000. Campbell & CO Investment Adviser LLC purchased a new stake in Assurant during the first quarter valued at $201,000. Ifrah Financial Services Inc. purchased a new stake in Assurant during the fourth quarter valued at $204,000. Koch Industries Inc. purchased a new stake in shares of Assurant in the fourth quarter valued at $206,000. Finally, Zeke Capital Advisors LLC purchased a new stake in shares of Assurant in the first quarter valued at $238,000. 93.55% of the stock is currently owned by institutional investors.
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Several equities research analysts have recently weighed in on AIZ shares. ValuEngine raised shares of Assurant from a “sell” rating to a “hold” rating in a research note on Tuesday, April 17th. UBS started coverage on shares of Assurant in a research note on Friday, March 2nd. They issued a “buy” rating and a $127.00 target price on the stock. Finally, SunTrust Banks reduced their target price on shares of Assurant and set a “buy” rating on the stock in a research note on Thursday, April 12th.
Shares of AIZ opened at $89.71 on Wednesday. Assurant has a twelve month low of $87.69 and a twelve month high of $89.20. The firm has a market capitalization of $4.61 billion, a PE ratio of 22.54, a PEG ratio of 0.60 and a beta of 0.55. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.45.
Assurant (NYSE:AIZ) last announced its earnings results on Thursday, May 3rd. The financial services provider reported $2.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.25. Assurant had a net margin of 7.41% and a return on equity of 5.17%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the firm posted $1.88 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. equities research analysts predict that Assurant will post 7.54 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 19th. Stockholders of record on Tuesday, May 29th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, May 25th. Assurant’s dividend payout ratio is currently 56.28%.
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; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.
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