Strycker View Capital LLC lessened its stake in shares of Assurant, Inc. (NYSE:AIZ) by 65.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,965 shares of the financial services provider’s stock after selling 218,623 shares during the period. Assurant comprises 4.8% of Strycker View Capital LLC’s investment portfolio, making the stock its 11th largest holding. Strycker View Capital LLC owned about 0.19% of Assurant worth $12,443,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan purchased a new position in Assurant during the fourth quarter worth about $124,000. Geode Capital Management LLC raised its stake in 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 period. Surevest Inc. raised its stake in Assurant by 149.4% during the first quarter. Surevest Inc. now owns 6,814 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 4,082 shares during the period. State of Alaska Department of Revenue raised its stake in Assurant by 3.4% during the first quarter. State of Alaska Department of Revenue now owns 25,742 shares of the financial services provider’s stock worth $2,442,000 after purchasing an additional 842 shares during the period. Finally, Legacy Capital Partners Inc. raised its stake in Assurant by 13.2% during the first quarter. Legacy Capital Partners Inc. now owns 13,084 shares of the financial services provider’s stock worth $1,242,000 after purchasing an additional 1,530 shares during the period. Hedge funds and other institutional investors own 90.51% of the company’s stock.
Separately, UBS Group boosted their price target on shares of Assurant to $133.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. They noted that the move was a valuation call.
Assurant (NYSE:AIZ) last released 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. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.35 billion. Assurant had a net margin of 3.46% and a return on equity of 7.23%. The business’s revenue was up 39.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.13 EPS. Analysts anticipate that Assurant, Inc. will post 8.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, August 26th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, August 23rd. Assurant’s dividend payout ratio (DPR) is 41.38%.
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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