Meeder Asset Management Inc. lowered its stake in Assurant, Inc. (NYSE:AIZ) by 10.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 7,450 shares of the financial services provider’s stock after selling 913 shares during the period. Meeder Asset Management Inc.’s holdings in Assurant were worth $707,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in AIZ. Norges Bank acquired a new position in Assurant in the 4th quarter valued at about $146,940,000. Samlyn Capital LLC grew its stake in Assurant by 70.3% in the 4th quarter. Samlyn Capital LLC now owns 632,761 shares of the financial services provider’s stock valued at $56,594,000 after buying an additional 261,115 shares during the last quarter. Strycker View Capital LLC grew its stake in Assurant by 279.4% in the 4th quarter. Strycker View Capital LLC now owns 265,580 shares of the financial services provider’s stock valued at $23,753,000 after buying an additional 195,580 shares during the last quarter. Bessemer Group Inc. grew its stake in Assurant by 54.5% in the 4th quarter. Bessemer Group Inc. now owns 424,699 shares of the financial services provider’s stock valued at $37,985,000 after buying an additional 149,781 shares during the last quarter. Finally, Prana Capital Management LP grew its stake in Assurant by 630.3% in the 4th quarter. Prana Capital Management LP now owns 169,429 shares of the financial services provider’s stock valued at $15,154,000 after buying an additional 146,229 shares during the last quarter. Institutional investors and hedge funds own 94.50% of the company’s stock.
In other Assurant news, insider Tpg Advisors Vi-Aiv, Inc. sold 7,869,230 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.15, for a total transaction of $772,364,924.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.68% of the company’s stock.
Shares of AIZ opened at $93.23 on Friday. Assurant, Inc. has a 52 week low of $82.31 and a 52 week high of $111.43. The stock has a market capitalization of $5.75 billion, a P/E ratio of 15.70 and a beta of 0.63. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39.
Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, February 12th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.31. Assurant had a net margin of 3.06% and a return on equity of 6.92%. The firm had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The business’s revenue was up 38.2% compared to the same quarter last year. Equities analysts expect that Assurant, Inc. will post 8.54 earnings per share for the current year.
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.
Further Reading: Quiet Period Expirations
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