Bank of Montreal Can Has $3.77 Million Position in Assurant, Inc. (AIZ)
Bank of Montreal Can boosted its position in shares of Assurant, Inc. (NYSE:AIZ) by 40.8% during the second quarter, Holdings Channel reports. The institutional investor owned 36,358 shares of the financial services provider’s stock after buying an additional 10,536 shares during the period. Bank of Montreal Can’s holdings in Assurant were worth $3,770,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Assurant by 2,736.9% in the first quarter. BlackRock Inc. now owns 3,755,033 shares of the financial services provider’s stock worth $359,245,000 after buying an additional 3,622,668 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in Assurant by 128.3% in the first quarter. Wedge Capital Management L L P NC now owns 1,158,533 shares of the financial services provider’s stock worth $110,837,000 after buying an additional 651,139 shares in the last quarter. AQR Capital Management LLC raised its stake in Assurant by 16.7% in the first quarter. AQR Capital Management LLC now owns 1,931,516 shares of the financial services provider’s stock worth $184,788,000 after buying an additional 276,789 shares in the last quarter. Todd Asset Management LLC purchased a new stake in Assurant during the first quarter worth approximately $14,885,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Assurant by 2,274.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 156,700 shares of the financial services provider’s stock worth $14,991,000 after buying an additional 150,100 shares in the last quarter. 92.43% of the stock is owned by institutional investors.
Shares of Assurant, Inc. (NYSE AIZ) traded up 1.06% during trading on Friday, hitting $104.94. The stock had a trading volume of 275,834 shares. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 13.79 and a beta of 0.77. Assurant, Inc. has a 1-year low of $78.50 and a 1-year high of $106.99. The firm has a 50 day moving average of $104.39 and a 200 day moving average of $99.46.
Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.05. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the business posted $1.42 EPS. Assurant’s revenue for the quarter was down 11.0% on a year-over-year basis. Analysts expect that Assurant, Inc. will post $6.55 EPS for the current fiscal year.
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Separately, BidaskClub raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $98.33.
In other news, EVP Christopher J. Pagano sold 7,000 shares of Assurant stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $102.94, for a total transaction of $720,580.00. Following the transaction, the executive vice president now owns 55,978 shares in the company, valued at approximately $5,762,375.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.83% of the company’s stock.
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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