Retirement Systems of Alabama cut its stake in Assurant, Inc. (NYSE:AIZ) by 19.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,869 shares of the financial services provider’s stock after selling 15,446 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of Assurant worth $6,196,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue grew its stake in shares of Assurant by 6.2% in the second quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 114 shares in the last quarter. Thrivent Financial For Lutherans acquired a new position in shares of Assurant in the second quarter valued at about $216,000. Achmea Investment Management B.V. acquired a new stake in Assurant during the second quarter worth about $244,000. Edgestream Partners L.P. acquired a new stake in Assurant during the second quarter worth about $248,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Assurant during the second quarter worth about $283,000. 90.92% of the stock is currently owned by institutional investors.
Assurant, Inc. (NYSE:AIZ) opened at $98.58 on Tuesday. The stock has a market cap of $5,306.91, a P/E ratio of 38.52, a P/E/G ratio of 1.38 and a beta of 0.81. Assurant, Inc. has a fifty-two week low of $85.07 and a fifty-two week high of $106.99. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.26.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.79) by $0.39. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. Assurant had a net margin of 3.67% and a return on equity of 3.55%. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the business earned $1.00 EPS. equities analysts expect that Assurant, Inc. will post 3.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, November 27th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, November 24th. This is a positive change from Assurant’s previous quarterly dividend of $0.53. Assurant’s dividend payout ratio (DPR) is 50.72%.
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A number of research firms have recently commented on AIZ. BidaskClub cut shares of Assurant from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. SunTrust Banks, Inc. reissued a “buy” rating and issued a $115.00 target price on shares of Assurant in a report on Thursday, October 12th.
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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