Kemnay Advisory Services Inc. boosted its position in shares of Assurant, Inc. (NYSE:AIZ) by 53.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,179 shares of the financial services provider’s stock after purchasing an additional 4,606 shares during the period. Assurant makes up 0.6% of Kemnay Advisory Services Inc.’s portfolio, making the stock its 28th biggest position. Kemnay Advisory Services Inc.’s holdings in Assurant were worth $1,329,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AIZ. Raymond James Financial Services Advisors Inc. acquired a new stake in Assurant during the 2nd quarter valued at $283,000. Canada Pension Plan Investment Board grew its holdings in Assurant by 50.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,800 shares of the financial services provider’s stock valued at $1,032,000 after purchasing an additional 3,600 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Assurant by 1.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 98,988 shares of the financial services provider’s stock valued at $9,455,000 after purchasing an additional 1,070 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in Assurant by 5.0% during the 3rd quarter. State of Wisconsin Investment Board now owns 50,819 shares of the financial services provider’s stock valued at $4,854,000 after purchasing an additional 2,429 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Assurant by 1,741.6% during the 3rd quarter. American Century Companies Inc. now owns 104,361 shares of the financial services provider’s stock valued at $9,969,000 after purchasing an additional 98,694 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.
AIZ has been the subject of several recent analyst reports. UBS initiated coverage on shares of Assurant in a report on Friday, March 2nd. They set a “buy” rating and a $127.00 price objective for the company. ValuEngine raised shares of Assurant from a “sell” rating to a “hold” rating in a report on Wednesday, March 7th.
Shares of Assurant, Inc. (AIZ) traded up $1.05 during mid-day trading on Friday, reaching $89.93. 1,387,670 shares of the company’s stock traded hands, compared to its average volume of 519,949. The firm has a market cap of $4,619.41, a price-to-earnings ratio of 9.57, a P/E/G ratio of 0.57 and a beta of 0.63. 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 52 week low of $84.34 and a 52 week high of $106.99.
Assurant (NYSE:AIZ) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.26. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. Assurant had a net margin of 8.10% and a return on equity of 5.24%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. equities research analysts predict that Assurant, Inc. will post 7.93 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Shareholders of record on Monday, February 26th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, February 23rd. Assurant’s dividend payout ratio is currently 23.83%.
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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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