Municipal Employees Retirement System of Michigan Has $183,000 Stake in Assurant, Inc. (NYSE:AIZ)
Municipal Employees Retirement System of Michigan continued to hold its stake in Assurant, Inc. (NYSE:AIZ) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,910 shares of the financial services provider’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Assurant were worth $183,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC increased its stake in shares of Assurant by 128.3% in the first quarter. Wedge Capital Management L L P NC now owns 1,158,533 shares of the financial services provider’s stock worth $110,837,000 after buying an additional 651,139 shares during the period. Norges Bank acquired a new stake in shares of Assurant during the fourth quarter worth about $59,506,000. UBS Asset Management Americas Inc. increased its stake in shares of Assurant by 8.0% in the first quarter. UBS Asset Management Americas Inc. now owns 520,058 shares of the financial services provider’s stock worth $49,754,000 after buying an additional 38,416 shares during the period. APG Asset Management N.V. increased its stake in shares of Assurant by 14.5% in the first quarter. APG Asset Management N.V. now owns 440,992 shares of the financial services provider’s stock worth $42,190,000 after buying an additional 55,800 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Assurant by 4.0% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 412,528 shares of the financial services provider’s stock worth $39,467,000 after buying an additional 15,976 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.
Shares of Assurant, Inc. (NYSE AIZ) traded down 1.00% on Monday, hitting $103.89. The stock had a trading volume of 287,406 shares. The company has a 50 day moving average price of $104.39 and a 200-day moving average price of $99.46. The stock has a market cap of $5.74 billion, a PE ratio of 13.65 and a beta of 0.77. Assurant, Inc. has a 12 month low of $78.50 and a 12 month high of $106.99.
Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 6.53% and a return on equity of 6.70%. The business’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 earnings per share. On average, equities research analysts anticipate that Assurant, Inc. will post $6.55 earnings per share for the current year.
The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.04%. Assurant’s dividend payout ratio (DPR) is currently 27.89%.
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Separately, BidaskClub upgraded Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $98.33.
In related news, EVP Christopher J. Pagano sold 7,000 shares of Assurant 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 transaction, the executive vice president now owns 55,978 shares in the company, valued at $5,762,375.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.83% of the company’s stock.
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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