TD Asset Management Inc. Decreases Position in Assurant, Inc. (AIZ)
TD Asset Management Inc. trimmed its position in shares of Assurant, Inc. (NYSE:AIZ) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,575 shares of the financial services provider’s stock after selling 2,702 shares during the period. TD Asset Management Inc. owned about 0.09% of Assurant worth $4,544,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ING Groep NV increased its stake in Assurant by 66.3% in the 3rd quarter. ING Groep NV now owns 4,657 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 1,856 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Assurant by 10.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,085 shares of the financial services provider’s stock worth $1,059,000 after purchasing an additional 1,074 shares during the period. Meiji Yasuda Asset Management Co Ltd. purchased a new position in Assurant in the 3rd quarter worth approximately $414,000. Pacer Advisors Inc. increased its stake in Assurant by 19.8% in the 3rd quarter. Pacer Advisors Inc. now owns 9,534 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 1,577 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Assurant in the 3rd quarter worth approximately $356,000. 90.48% of the stock is currently owned by institutional investors.
Assurant, Inc. (NYSE AIZ) opened at $98.02 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market capitalization of $5,284.31, a P/E ratio of 38.36, a price-to-earnings-growth ratio of 1.37 and a beta of 0.78. Assurant, Inc. has a 12 month low of $86.00 and a 12 month high of $106.99.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Monday, November 27th will be paid a dividend of $0.56 per share. The ex-dividend date is Friday, November 24th. This is a boost from Assurant’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 2.29%. Assurant’s payout ratio is 53.59%.
A number of equities analysts have commented on the company. SunTrust Banks reaffirmed a “buy” rating and issued a $115.00 price target on shares of Assurant in a research note on Thursday, October 12th. BidaskClub cut Assurant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd.
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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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