Hancock Holding Co. Decreases Stake in Assurant Inc. (AIZ)
Hancock Holding Co. lowered its stake in Assurant Inc. (NYSE:AIZ) by 4.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,100 shares of the company’s stock after selling 375 shares during the period. Hancock Holding Co.’s holdings in Assurant were worth $699,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Assurant by 15.8% in the second quarter. Bank of New York Mellon Corp now owns 2,150,992 shares of the company’s stock valued at $185,652,000 after buying an additional 292,753 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Assurant by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,091,794 shares of the company’s stock valued at $180,533,000 after buying an additional 8,315 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Assurant by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,864,540 shares of the company’s stock valued at $143,849,000 after buying an additional 10,375 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Assurant by 16.4% in the first quarter. Wellington Management Group LLP now owns 1,561,523 shares of the company’s stock valued at $120,471,000 after buying an additional 220,377 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Assurant during the fourth quarter valued at about $59,258,000. 94.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Assurant Inc. (NYSE:AIZ) traded up 0.02% during midday trading on Tuesday, hitting $89.64. The stock had a trading volume of 91,125 shares. The company’s 50-day moving average price is $87.06 and its 200-day moving average price is $84.21. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of 13.23 and a beta of 0.69. Assurant Inc. has a 12-month low of $64.36 and a 12-month high of $90.65.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by $0.04. Assurant had a return on equity of 8.08% and a net margin of 4.97%. The business earned $1.80 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the company earned $2.07 earnings per share. The business’s quarterly revenue was down 32.0% compared to the same quarter last year. Equities research analysts forecast that Assurant Inc. will post $5.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 29th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, August 25th. Assurant’s dividend payout ratio (DPR) is 28.94%.
Several equities analysts recently issued reports on AIZ shares. Zacks Investment Research cut Assurant from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $77.00 price objective on shares of Assurant in a report on Wednesday, July 6th. Goldman Sachs Group Inc. cut Assurant to a “buy” rating and set a $95.00 price objective for the company. in a report on Sunday, July 17th. Finally, DOWLING & PARTN reaffirmed a “neutral” rating on shares of Assurant in a report on Tuesday, August 23rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $90.60.
In related news, EVP Christopher J. Pagano sold 6,000 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $89.76, for a total value of $538,560.00. Following the completion of the transaction, the executive vice president now directly owns 70,149 shares of the company’s stock, valued at approximately $6,296,574.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Stein sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $84.01, for a total value of $210,025.00. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.
Assurant Company Profile
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