American Century Companies Inc. Takes $588,000 Position in Assurant, Inc. (AIZ)
American Century Companies Inc. purchased a new stake in Assurant, Inc. (NYSE:AIZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,667 shares of the financial services provider’s stock, valued at approximately $588,000.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Assurant by 2,736.9% during the 1st quarter. BlackRock Inc. now owns 3,755,033 shares of the financial services provider’s stock valued at $359,245,000 after purchasing an additional 3,622,668 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Assurant by 16.7% during the 1st quarter. AQR Capital Management LLC now owns 1,931,516 shares of the financial services provider’s stock valued at $184,788,000 after purchasing an additional 276,789 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Assurant by 2,274.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 156,700 shares of the financial services provider’s stock valued at $14,991,000 after purchasing an additional 150,100 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Assurant by 53.1% during the 1st quarter. JPMorgan Chase & Co. now owns 266,069 shares of the financial services provider’s stock valued at $25,454,000 after purchasing an additional 92,282 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Assurant by 2,127.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 74,945 shares of the financial services provider’s stock valued at $7,170,000 after purchasing an additional 71,581 shares in the last quarter. 90.77% of the stock is owned by institutional investors.
Separately, BidaskClub upgraded Assurant from a “hold” rating to a “buy” rating in a research report on Friday, June 30th.
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Shares of Assurant, Inc. (NYSE AIZ) opened at 93.80 on Tuesday. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 12.33 and a beta of 0.80. Assurant, Inc. has a 12 month low of $78.50 and a 12 month high of $106.99. The company’s 50 day moving average price is $98.46 and its 200 day moving average price is $99.75.
Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.05. Assurant had a return on equity of 6.70% and a net margin of 6.53%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the previous year, the business earned $1.42 EPS. Assurant’s revenue was down 11.0% compared to the same quarter last year. On average, equities analysts expect that Assurant, Inc. will post $6.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Monday, August 28th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, August 24th. This represents a $2.12 dividend on an annualized basis and a yield of 2.26%. Assurant’s dividend payout ratio is presently 27.89%.
Assurant Company Profile
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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