World Asset Management Inc Sells 999 Shares of Assurant, Inc. (NYSE:AIZ)
World Asset Management Inc reduced its stake in Assurant, Inc. (NYSE:AIZ) by 31.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,145 shares of the financial services provider’s stock after selling 999 shares during the quarter. World Asset Management Inc’s holdings in Assurant were worth $222,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in AIZ. Norges Bank bought a new position in Assurant in the 4th quarter worth $98,863,000. Nuveen Asset Management LLC raised its holdings in Assurant by 84.5% in the 4th quarter. Nuveen Asset Management LLC now owns 629,913 shares of the financial services provider’s stock worth $82,569,000 after purchasing an additional 288,538 shares during the period. Viking Global Investors LP increased its stake in Assurant by 15.4% in the 1st quarter. Viking Global Investors LP now owns 2,148,405 shares of the financial services provider’s stock worth $223,627,000 after buying an additional 287,138 shares in the last quarter. Samlyn Capital LLC increased its stake in Assurant by 22.2% in the 1st quarter. Samlyn Capital LLC now owns 1,136,190 shares of the financial services provider’s stock worth $118,266,000 after buying an additional 206,764 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Assurant by 13.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,730,969 shares of the financial services provider’s stock worth $180,176,000 after buying an additional 202,594 shares in the last quarter. 93.97% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the company. ValuEngine lowered Assurant from a “hold” rating to a “sell” rating in a research note on Thursday, April 23rd. Morgan Stanley increased their price target on Assurant from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Finally, SunTrust Banks cut their price target on Assurant from $155.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, May 7th.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $2.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.42 by $0.22. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.54 billion. Assurant had a return on equity of 10.03% and a net margin of 3.59%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.21 earnings per share. On average, equities analysts expect that Assurant, Inc. will post 9.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Monday, August 31st will be given a dividend of $0.63 per share. The ex-dividend date is Friday, August 28th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.34%. Assurant’s payout ratio is 29.47%.
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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