TrinityPoint Wealth LLC purchased a new stake in Assurant, Inc. (NYSE:AIZ) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,092 shares of the financial services provider’s stock, valued at approximately $238,000.
Other hedge funds have also added to or reduced their stakes in the company. Bremer Bank National Association acquired a new position in shares of Assurant in the first quarter valued at about $45,000. Thor Advisors LLC acquired a new stake in Assurant during the first quarter worth about $69,000. Private Capital Group LLC grew its stake in Assurant by 25.2% during the first quarter. Private Capital Group LLC now owns 745 shares of the financial services provider’s stock worth $71,000 after buying an additional 150 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Assurant during the second quarter worth about $89,000. Finally, Municipal Employees Retirement System of Michigan grew its stake in Assurant by 21.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 850 shares of the financial services provider’s stock worth $90,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 93.07% of the company’s stock.
A number of brokerages have issued reports on AIZ. UBS Group increased their price objective on shares of Assurant to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. They noted that the move was a valuation call. Morgan Stanley increased their price objective on shares of Assurant from $119.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th.
Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.21. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Assurant had a net margin of 4.00% and a return on equity of 7.58%. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.13 earnings per share. On average, analysts expect that Assurant, Inc. will post 8.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, August 26th will be issued a $0.60 dividend. The ex-dividend date is Friday, August 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.97%. Assurant’s dividend payout ratio (DPR) is currently 41.38%.
In other news, EVP Michael P. Campbell sold 5,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $124.26, for a total value of $683,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gene Mergelmeyer sold 15,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $124.24, for a total transaction of $1,863,600.00. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.
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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