Assurant, Inc. (AIZ) Shares Sold by Bessemer Group Inc.
Bessemer Group Inc. lowered its position in shares of Assurant, Inc. (NYSE:AIZ) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,473 shares of the financial services provider’s stock after selling 1,991 shares during the period. Bessemer Group Inc.’s holdings in Assurant were worth $3,678,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Savant Capital LLC increased its stake in shares of Assurant by 0.4% in the first quarter. Savant Capital LLC now owns 2,650 shares of the financial services provider’s stock worth $254,000 after buying an additional 10 shares during the period. ProShare Advisors LLC increased its stake in shares of Assurant by 0.4% in the first quarter. ProShare Advisors LLC now owns 12,937 shares of the financial services provider’s stock worth $1,238,000 after buying an additional 56 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Assurant by 0.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,216 shares of the financial services provider’s stock worth $593,000 after buying an additional 58 shares during the period. GHP Investment Advisors Inc. increased its stake in shares of Assurant by 1.2% in the first quarter. GHP Investment Advisors Inc. now owns 5,468 shares of the financial services provider’s stock worth $523,000 after buying an additional 64 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Assurant by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 1,836 shares of the financial services provider’s stock worth $175,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 92.37% of the company’s stock.
Shares of Assurant, Inc. (NYSE AIZ) opened at 103.89 on Tuesday. The company has a market cap of $5.74 billion, a P/E ratio of 13.65 and a beta of 0.77. Assurant, Inc. has a 12 month low of $78.50 and a 12 month high of $106.99. The stock’s 50 day moving average price is $104.39 and its 200-day moving average price is $99.46.
Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business posted $1.42 earnings per share. The firm’s revenue was down 11.0% on a year-over-year basis. Equities research analysts expect that Assurant, Inc. will post $6.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors 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 2.04%. Assurant’s dividend payout ratio is currently 27.89%.
Separately, BidaskClub downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. One 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. The stock presently has a consensus rating of “Hold” and a consensus price target of $98.33.
In related news, EVP Christopher J. Pagano sold 7,000 shares of the 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 completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. 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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