Geode Capital Management LLC boosted its stake in shares of Assurant, Inc. (NYSE:AIZ) by 2.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 599,203 shares of the financial services provider’s stock after purchasing an additional 15,881 shares during the period. Geode Capital Management LLC owned approximately 1.14% of Assurant worth $60,306,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Burney Co. grew its position in Assurant by 0.9% during the 4th quarter. Burney Co. now owns 99,512 shares of the financial services provider’s stock worth $10,035,000 after purchasing an additional 841 shares during the period. Lazard Asset Management LLC acquired a new stake in Assurant during the 4th quarter worth about $1,012,000. Ascend Capital LLC acquired a new stake in Assurant during the 4th quarter worth about $3,048,000. Hudson Bay Capital Management LP acquired a new stake in Assurant during the 4th quarter worth about $6,083,000. Finally, Quadrature Capital Ltd acquired a new stake in Assurant during the 4th quarter worth about $475,000. 92.97% of the stock is currently owned by institutional investors.
Shares of Assurant, Inc. (NYSE AIZ) opened at $88.03 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.55 and a current ratio of 0.55. Assurant, Inc. has a 12 month low of $84.34 and a 12 month high of $106.99. The stock has a market cap of $4,675.56, a PE ratio of 22.61, a PEG ratio of 0.58 and a beta of 0.63.
Assurant (NYSE:AIZ) last posted 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 net margin of 8.10% and a return on equity of 5.24%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the company posted $0.54 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. research analysts predict that Assurant, Inc. will post 7.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Monday, February 26th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, February 23rd. Assurant’s payout ratio is currently 23.83%.
Several equities research analysts have recently issued reports on AIZ shares. UBS Group started coverage on shares of Assurant in a research note on Friday, March 2nd. They set a “buy” rating and a $127.00 target price on the stock. ValuEngine raised shares of Assurant from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th.
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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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