Mesirow Financial Investment Management Equity Management Has $1,164,000 Stake in Assurant, Inc. (NYSE:AIZ)
Mesirow Financial Investment Management Equity Management held its position in shares of Assurant, Inc. (NYSE:AIZ) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 11,230 shares of the financial services provider’s stock at the end of the second quarter. Mesirow Financial Investment Management Equity Management’s holdings in Assurant were worth $1,164,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AIZ. Advisors Preferred LLC purchased a new position in shares of Assurant during the first quarter valued at $104,000. Ameritas Investment Partners Inc. purchased a new position in shares of Assurant during the first quarter valued at $122,000. State of Alaska Department of Revenue increased its position in shares of Assurant by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 1,836 shares of the financial services provider’s stock valued at $175,000 after buying an additional 91 shares during the period. Chicago Equity Partners LLC purchased a new position in shares of Assurant during the first quarter valued at $213,000. Finally, Atria Investments LLC purchased a new position in shares of Assurant during the second quarter valued at $214,000. Institutional investors and hedge funds own 92.37% of the company’s stock.
Assurant, Inc. (AIZ) opened at 105.02 on Thursday. The firm’s 50-day moving average is $104.54 and its 200-day moving average is $99.79. Assurant, Inc. has a 1-year low of $78.50 and a 1-year high of $106.99. The company has a market capitalization of $5.80 billion, a P/E ratio of 13.80 and a beta of 0.77.
Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.05. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. Assurant’s revenue was down 11.0% compared to the same quarter last year. Equities research analysts predict that Assurant, Inc. will post $6.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 28th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, August 24th. Assurant’s dividend payout ratio (DPR) is currently 27.89%.
Separately, BidaskClub upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $98.33.
In related news, EVP Christopher J. Pagano sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $97.75, for a total transaction of $195,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Christopher J. Pagano sold 7,000 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the transaction, the executive vice president now directly owns 55,978 shares in the company, valued at approximately $5,762,375.32. The disclosure for this sale can be found here. 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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