Envestnet Asset Management Inc. lifted its holdings in Assurant, Inc. (NYSE:AIZ) by 35.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,071 shares of the financial services provider’s stock after purchasing an additional 2,649 shares during the period. Envestnet Asset Management Inc.’s holdings in Assurant were worth $1,071,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in Assurant by 10.9% during the 1st quarter. BlackRock Inc. now owns 4,021,908 shares of the financial services provider’s stock valued at $381,720,000 after buying an additional 395,140 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Assurant by 42.0% during the first quarter. Neuberger Berman Group LLC now owns 843,392 shares of the financial services provider’s stock worth $80,046,000 after purchasing an additional 249,325 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Assurant by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 711,913 shares of the financial services provider’s stock worth $63,569,000 after purchasing an additional 19,203 shares during the last quarter. USS Investment Management Ltd lifted its position in shares of Assurant by 46.3% during the second quarter. USS Investment Management Ltd now owns 384,500 shares of the financial services provider’s stock worth $40,872,000 after purchasing an additional 121,600 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of Assurant by 6.6% in the first quarter. California Public Employees Retirement System now owns 383,098 shares of the financial services provider’s stock valued at $36,360,000 after acquiring an additional 23,732 shares in the last quarter. Hedge funds and other institutional investors own 91.81% of the company’s stock.
Shares of AIZ traded down $0.60 during trading hours on Friday, hitting $125.00. 430,388 shares of the stock were exchanged, compared to its average volume of 578,070. The company has a market cap of $7.56 billion, a price-to-earnings ratio of 21.55 and a beta of 0.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.48 and a current ratio of 0.48. Assurant, Inc. has a 12-month low of $82.31 and a 12-month high of $126.48. The stock’s 50-day moving average price is $119.56 and its two-hundred day moving average price is $105.40.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.21. Assurant had a return on equity of 7.58% and a net margin of 4.00%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the company earned $2.13 EPS. Assurant’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, research analysts expect that Assurant, Inc. will post 8.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, August 26th will be paid a $0.60 dividend. The ex-dividend date is Friday, August 23rd. This represents a $2.40 annualized dividend and a dividend yield of 1.92%. Assurant’s dividend payout ratio (DPR) is currently 41.38%.
In other news, COO Gene Mergelmeyer sold 15,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $124.24, for a total value of $1,863,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael P. Campbell sold 5,500 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $124.26, for a total value of $683,430.00. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
AIZ has been the topic of several analyst reports. Morgan Stanley lifted their target price on Assurant from $119.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. UBS Group upped their target price on Assurant from $142.00 to $153.00 and gave the company a “buy” rating in a research report on Monday.
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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