Stevens Capital Management LP reduced its position in shares of Assurant, Inc. (NYSE:AIZ) by 89.1% in the first quarter, Holdings Channel reports. The institutional investor owned 6,104 shares of the financial services provider’s stock after selling 49,704 shares during the quarter. Stevens Capital Management LP’s holdings in Assurant were worth $579,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of AIZ. Norges Bank bought a new stake in Assurant during the 4th quarter valued at $146,940,000. Samlyn Capital LLC raised its holdings in Assurant by 70.3% during 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 raised its holdings in Assurant by 279.4% during 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. raised its holdings in Assurant by 54.5% during 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 raised its holdings in Assurant by 630.3% during 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 own 92.71% of the company’s stock.
Separately, UBS Group lowered their price target on shares of Assurant to $124.00 and set a “buy” rating for the company in a report on Friday, March 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $125.75.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Monday, May 6th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.13 by $0.08. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.30 billion. Assurant had a net margin of 3.46% and a return on equity of 7.23%. The company’s quarterly revenue was up 48.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.14 EPS. Analysts predict that Assurant, Inc. will post 8.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, May 24th. Assurant’s payout ratio is currently 41.38%.
In other news, insider Tpg Advisors Vi-Aiv, Inc. sold 7,869,230 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $98.15, for a total value of $772,364,924.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.68% 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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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