Assurant, Inc. (NYSE:AIZ) Position Cut by Oregon Public Employees Retirement Fund
Oregon Public Employees Retirement Fund decreased its stake in shares of Assurant, Inc. (NYSE:AIZ) by 40.2% during the second quarter, Holdings Channel reports. The institutional investor owned 5,945 shares of the financial services provider’s stock after selling 4,000 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Assurant were worth $616,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of AIZ. Bridgewater Associates LP bought a new position in Assurant during the first quarter worth approximately $1,896,000. Canada Pension Plan Investment Board boosted its position in Assurant by 93.8% in the first quarter. Canada Pension Plan Investment Board now owns 7,384 shares of the financial services provider’s stock worth $706,000 after buying an additional 3,574 shares in the last quarter. Korea Investment CORP bought a new position in Assurant during the first quarter worth approximately $3,559,000. Nationwide Fund Advisors boosted its position in Assurant by 68.0% in the first quarter. Nationwide Fund Advisors now owns 142,398 shares of the financial services provider’s stock worth $13,623,000 after buying an additional 57,644 shares in the last quarter. Finally, BlackRock Inc. boosted its position 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. 92.37% of the stock is owned by institutional investors.
Assurant, Inc. (NYSE:AIZ) traded down 1.36% during trading on Monday, reaching $103.51. 71,114 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $104.39 and its 200-day moving average is $99.46. Assurant, Inc. has a 12-month low of $78.50 and a 12-month high of $106.99. The company has a market cap of $5.72 billion, a P/E ratio of 13.60 and a beta of 0.77.
Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.05. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 earnings per share. Analysts predict that Assurant, Inc. will post $6.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 2.02%. Assurant’s payout ratio is currently 27.89%.
Separately, BidaskClub cut shares of Assurant from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $98.33.
In other news, EVP Christopher J. Pagano sold 7,000 shares of Assurant stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $102.94, for a total transaction of $720,580.00. Following the sale, the executive vice president now owns 55,978 shares in the company, valued at $5,762,375.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company 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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