Pzena Investment Management LLC Has $7,391,000 Stake in Assurant Inc. (AIZ)
Pzena Investment Management LLC cut its position in Assurant Inc. (NYSE:AIZ) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 80,124 shares of the company’s stock after selling 136 shares during the period. Pzena Investment Management LLC’s holdings in Assurant were worth $7,391,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in AIZ. Independent Portfolio Consultants Inc. boosted its stake in Assurant by 60.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,470 shares of the company’s stock worth $127,000 after buying an additional 555 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Assurant by 7.1% in the second quarter. State of Alaska Department of Revenue now owns 1,527 shares of the company’s stock worth $131,000 after buying an additional 101 shares in the last quarter. Toronto Dominion Bank boosted its stake in Assurant by 398.3% in the third quarter. Toronto Dominion Bank now owns 1,774 shares of the company’s stock worth $163,000 after buying an additional 1,418 shares in the last quarter. FNY Managed Accounts LLC boosted its stake in Assurant by 160.0% in the second quarter. FNY Managed Accounts LLC now owns 1,950 shares of the company’s stock worth $168,000 after buying an additional 1,200 shares in the last quarter. Finally, Tuttle Tactical Management LLC purchased a new stake in Assurant during the second quarter worth $170,000. Institutional investors and hedge funds own 93.55% of the company’s stock.
Assurant Inc. (NYSE:AIZ) traded up 0.37% during midday trading on Tuesday, hitting $86.22. The stock had a trading volume of 173,972 shares. The firm has a 50 day moving average price of $84.59 and a 200 day moving average price of $86.40. Assurant Inc. has a one year low of $64.36 and a one year high of $92.63. The stock has a market cap of $4.92 billion, a PE ratio of 9.25 and a beta of 0.86.
Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, October 25th. The company reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.02. Assurant had a return on equity of 6.93% and a net margin of 7.20%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company earned $1.71 earnings per share. The firm’s quarterly revenue was down 27.6% compared to the same quarter last year. Equities analysts expect that Assurant Inc. will post $4.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 28th will be issued a dividend of $0.53 per share. This is a boost from Assurant’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, November 23rd. This represents a $2.12 annualized dividend and a yield of 2.47%. Assurant’s payout ratio is presently 22.60%.
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A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Assurant from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. DOWLING & PARTN reiterated a “neutral” rating on shares of Assurant in a report on Tuesday, August 23rd. Bank of America Corp. cut Assurant from a “buy” rating to a “neutral” rating and set a $87.00 target price on the stock. in a report on Thursday, October 20th. Finally, Credit Suisse Group AG started coverage on Assurant in a report on Friday, October 7th. They set a “neutral” rating and a $93.00 target price on the stock. Six investment 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 a consensus rating of “Hold” and a consensus price target of $90.43.
In related news, EVP Christopher J. Pagano sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $89.76, for a total transaction of $538,560.00. Following the sale, the executive vice president now owns 70,149 shares of the company’s stock, valued at $6,296,574.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.85% of the company’s stock.
Assurant, Inc is a provider of specialty protection products and related services. The Company’s segments include Assurant Solution, Assurant Specialty Property and Corporate & Other. The Assurant Solutions segment provides mobile device protection products and services; debt protection administration; credit insurance; extended service products and related services for consumer electronics, appliances and vehicles, and offers pre-funded funeral insurance.
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