Cornerstone Capital Management Holdings LLC. Has $31.12 Million Position in Assurant, Inc. (AIZ)
Cornerstone Capital Management Holdings LLC. increased its stake in Assurant, Inc. (NYSE:AIZ) by 35.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 300,156 shares of the financial services provider’s stock after purchasing an additional 78,545 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.56% of Assurant worth $31,122,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC lifted its holdings in Assurant by 9,105.8% in the 2nd quarter. Janus Henderson Group PLC now owns 635,659 shares of the financial services provider’s stock worth $65,912,000 after purchasing an additional 628,754 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in Assurant by 11.4% in the 2nd quarter. Flinton Capital Management LLC now owns 52,960 shares of the financial services provider’s stock worth $5,491,000 after purchasing an additional 5,440 shares during the last quarter. Clinton Group Inc. lifted its holdings in Assurant by 2.6% in the 2nd quarter. Clinton Group Inc. now owns 14,259 shares of the financial services provider’s stock worth $1,479,000 after purchasing an additional 363 shares during the last quarter. Frontier Wealth Management LLC lifted its holdings in Assurant by 49.7% in the 2nd quarter. Frontier Wealth Management LLC now owns 3,600 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Assurant in the 2nd quarter worth approximately $780,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.
Separately, BidaskClub lowered Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th.
Shares of Assurant, Inc. (NYSE:AIZ) traded up 0.62% on Thursday, hitting $95.88. The stock had a trading volume of 94,339 shares. Assurant, Inc. has a 52 week low of $78.50 and a 52 week high of $106.99. The stock’s 50-day moving average price is $95.21 and its 200 day moving average price is $99.34. The company has a market cap of $5.17 billion, a PE ratio of 12.60 and a beta of 0.79.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.05. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period last year, the company earned $1.42 earnings per share. The business’s revenue was down 11.0% compared to the same quarter last year. On average, analysts predict that Assurant, Inc. will post $5.27 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th were given a $0.53 dividend. The ex-dividend date was Thursday, August 24th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.22%. Assurant’s payout ratio is 27.89%.
Assurant Company Profile
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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