Meiji Yasuda Asset Management Co Ltd. Purchases Shares of 2,200 Assurant, Inc. (NYSE:AIZ)
Meiji Yasuda Asset Management Co Ltd. purchased a new stake in Assurant, Inc. (NYSE:AIZ) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 2,200 shares of the financial services provider’s stock, valued at approximately $209,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc lifted its holdings in Assurant by 2.1% in the third quarter. Vanguard Group Inc now owns 5,653,635 shares of the financial services provider’s stock valued at $610,310,000 after acquiring an additional 113,694 shares during the last quarter. Dupont Capital Management Corp acquired a new position in Assurant in the fourth quarter valued at approximately $81,000. Daiwa Securities Group Inc. lifted its holdings in Assurant by 9.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,758 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 150 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Assurant by 13.9% in the fourth quarter. Victory Capital Management Inc. now owns 102,814 shares of the financial services provider’s stock valued at $9,196,000 after acquiring an additional 12,538 shares during the last quarter. Finally, Whittier Trust Co. acquired a new position in Assurant in the fourth quarter valued at approximately $231,000. 91.01% of the stock is owned by institutional investors and hedge funds.
Separately, UBS Group upped their price objective on Assurant to $133.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Assurant presently has an average rating of “Buy” and an average price target of $128.00.
Assurant (NYSE:AIZ) last announced its earnings results on Monday, May 6th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.08. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.30 billion. Assurant had a return on equity of 7.23% and a net margin of 3.46%. The firm’s quarterly revenue was up 48.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.14 earnings per share. As a group, analysts anticipate that Assurant, Inc. will post 8.59 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, May 24th. Assurant’s payout ratio is 41.38%.
In other Assurant news, insider Tpg Advisors Vi-Aiv, Inc. sold 7,869,230 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $98.15, for a total value of $772,364,924.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.68% of the stock is owned by insiders.
Assurant Company Profile
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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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