JPMorgan Chase & Co. Has $20.30 Million Stake in Assurant, Inc. (AIZ)

JPMorgan Chase & Co. trimmed its stake in shares of Assurant, Inc. (NYSE:AIZ) by 46.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,915 shares of the financial services provider’s stock after selling 184,803 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.39% of Assurant worth $20,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of AIZ. Virginia Retirement Systems ET AL bought a new stake in Assurant in the third quarter worth approximately $774,000. Great West Life Assurance Co. Can increased its holdings in Assurant by 5.8% in the third quarter. Great West Life Assurance Co. Can now owns 216,150 shares of the financial services provider’s stock worth $20,626,000 after purchasing an additional 11,913 shares in the last quarter. ING Groep NV increased its holdings in Assurant by 66.3% in the third quarter. ING Groep NV now owns 4,657 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 1,856 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Assurant by 10.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,085 shares of the financial services provider’s stock worth $1,059,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in Assurant in the third quarter worth approximately $414,000. Institutional investors own 90.48% of the company’s stock.

A number of equities research analysts have weighed in on AIZ shares. SunTrust Banks reiterated a “buy” rating and issued a $115.00 target price on shares of Assurant in a report on Thursday, October 12th. BidaskClub downgraded Assurant from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd.

Shares of Assurant, Inc. (NYSE AIZ) opened at $98.31 on Friday. The company has a market capitalization of $5,287.57, a P/E ratio of 38.38, a PEG ratio of 1.37 and a beta of 0.78. Assurant, Inc. has a 1-year low of $86.00 and a 1-year high of $106.99. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.26.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Thursday, November 2nd. The financial services provider reported ($1.40) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.79) by $0.39. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. Assurant had a return on equity of 3.55% and a net margin of 3.67%. The company’s quarterly revenue was down 13.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.00 earnings per share. sell-side analysts expect that Assurant, Inc. will post 3.69 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Monday, November 27th will be issued a dividend of $0.56 per share. This is an increase from Assurant’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 24th. This represents a $2.24 annualized dividend and a dividend yield of 2.28%. Assurant’s payout ratio is currently 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).

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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