Unigestion Holding SA purchased a new position in shares of Assurant, Inc. (NYSE:AIZ) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,736 shares of the financial services provider’s stock, valued at approximately $2,146,000.
Several other large investors have also added to or reduced their stakes in the company. USS Investment Management Ltd increased its position in Assurant by 35.8% during the second quarter. USS Investment Management Ltd now owns 310,900 shares of the financial services provider’s stock worth $32,175,000 after buying an additional 81,900 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in Assurant by 9.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 10,050 shares of the financial services provider’s stock worth $1,040,000 after buying an additional 870 shares in the last quarter. GWM Advisors LLC boosted its holdings in shares of Assurant by 95.7% during the second quarter. GWM Advisors LLC now owns 5,820 shares of the financial services provider’s stock worth $597,000 after purchasing an additional 2,846 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Assurant during the second quarter worth $517,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Assurant during the second quarter worth $5,606,000. 92.79% of the stock is owned by institutional investors and hedge funds.
Assurant traded up $0.33, hitting $106.28, during mid-day trading on Friday, MarketBeat reports. The company had a trading volume of 796,696 shares, compared to its average volume of 787,031. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.84 and a quick ratio of 0.62. Assurant, Inc. has a 1 year low of $84.34 and a 1 year high of $111.43. The firm has a market capitalization of $5.58 billion, a PE ratio of 23.29 and a beta of 0.53.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 18th. Stockholders of record on Monday, August 27th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, August 24th. Assurant’s payout ratio is 56.28%.
AIZ has been the topic of several analyst reports. ValuEngine upgraded Assurant from a “sell” rating to a “hold” rating in a report on Tuesday, April 17th. UBS Group raised their price objective on Assurant from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Morgan Stanley initiated coverage on Assurant in a report on Tuesday, July 10th. They issued an “overweight” rating and a $125.00 target price on the stock. SunTrust Banks lifted their target price on Assurant to $129.00 and gave the company an “outperform” rating in a report on Wednesday, July 11th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods initiated coverage on Assurant in a report on Monday, July 16th. They issued an “outperform” rating and a $121.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Assurant currently has an average rating of “Buy” and an average target price of $124.25.
In other news, EVP Christopher J. Pagano sold 2,500 shares of Assurant stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $95.55, for a total transaction of $238,875.00. Following the sale, the executive vice president now directly owns 59,993 shares of the company’s stock, valued at $5,732,331.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.93% of the stock is currently 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; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.
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