Meeder Asset Management Inc. Sells 1,194 Shares of Assurant, Inc. (AIZ)
Meeder Asset Management Inc. reduced its position in shares of Assurant, Inc. (NYSE:AIZ) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,216 shares of the financial services provider’s stock after selling 1,194 shares during the quarter. Meeder Asset Management Inc.’s holdings in Assurant were worth $930,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. California Public Employees Retirement System raised its holdings in Assurant by 8.1% during the third quarter. California Public Employees Retirement System now owns 217,047 shares of the financial services provider’s stock worth $20,732,000 after acquiring an additional 16,346 shares in the last quarter. PGGM Investments raised its holdings in Assurant by 426.6% during the third quarter. PGGM Investments now owns 186,407 shares of the financial services provider’s stock worth $17,806,000 after acquiring an additional 151,006 shares in the last quarter. Caxton Associates LP bought a new stake in Assurant during the second quarter worth about $498,000. Raymond James Financial Services Advisors Inc. bought a new stake in Assurant during the second quarter worth about $283,000. Finally, USS Investment Management Ltd raised its holdings in Assurant by 23.3% during the fourth quarter. USS Investment Management Ltd now owns 229,000 shares of the financial services provider’s stock worth $23,094,000 after acquiring an additional 43,300 shares in the last quarter. 91.68% of the stock is owned by institutional investors.
Separately, SunTrust Banks reiterated a “buy” rating and set a $115.00 target price on shares of Assurant in a report on Thursday, October 12th.
Assurant (NYSE:AIZ) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.26. Assurant had a return on equity of 3.55% and a net margin of 3.67%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. Assurant’s revenue was down 4.3% on a year-over-year basis. analysts expect that Assurant, Inc. will post 3.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Monday, February 26th will be issued a dividend of $0.56 per share. The ex-dividend date is Friday, February 23rd. This represents a $2.24 annualized dividend and a yield of 2.63%. Assurant’s payout ratio is presently 53.59%.
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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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