Rockland Trust Co. Acquires New Stake in Assurant, Inc. (NYSE:AIZ)
Rockland Trust Co. acquired a new position in Assurant, Inc. (NYSE:AIZ) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,108 shares of the financial services provider’s stock, valued at approximately $1,048,000.
A number of other hedge funds also recently bought and sold shares of the company. Bridgewater Associates LP bought a new stake in Assurant during the first quarter worth $1,896,000. Canada Pension Plan Investment Board boosted its stake 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 during the last quarter. Korea Investment CORP bought a new stake in Assurant during the first quarter worth $3,559,000. Nationwide Fund Advisors boosted its stake 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 during the last quarter. Finally, BlackRock Inc. boosted 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 during the last quarter. 92.37% of the stock is owned by institutional investors.
Shares of Assurant, Inc. (NYSE AIZ) opened at 104.75 on Wednesday. Assurant, Inc. has a 52-week low of $78.50 and a 52-week high of $106.99. The firm’s 50-day moving average price is $104.53 and its 200-day moving average price is $99.56. The firm has a market capitalization of $5.79 billion, a PE ratio of 13.77 and a beta of 0.77.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.05. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The business’s revenue was down 11.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.42 earnings per share. On average, equities analysts predict that Assurant, Inc. will post $6.55 earnings per share for the current fiscal year.
The firm 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. The ex-dividend date is Thursday, August 24th. This represents a $2.12 annualized dividend and a dividend yield of 2.02%. Assurant’s dividend payout ratio is presently 27.89%.
Separately, BidaskClub cut Assurant from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $98.33.
In other news, EVP Christopher J. Pagano sold 7,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 55,978 shares in the company, valued at $5,762,375.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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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