AT Bancorp bought a new stake in shares of Assurant (NYSE:AIZ) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 22,683 shares of the financial services provider’s stock, valued at approximately $2,074,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of AIZ. Lyrical Asset Management LP grew its position in shares of Assurant by 3.2% in the 4th quarter. Lyrical Asset Management LP now owns 1,916,844 shares of the financial services provider’s stock worth $193,295,000 after buying an additional 58,950 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Assurant by 1.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 1,209,618 shares of the financial services provider’s stock worth $121,978,000 after buying an additional 14,784 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Assurant by 63.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 725,316 shares of the financial services provider’s stock worth $66,301,000 after buying an additional 281,234 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Assurant by 11.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 635,078 shares of the financial services provider’s stock worth $64,042,000 after buying an additional 65,800 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Assurant by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 599,203 shares of the financial services provider’s stock worth $60,306,000 after buying an additional 15,881 shares during the last quarter. 93.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Assurant opened at $94.29 on Friday, according to MarketBeat Ratings. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.45. Assurant has a 12 month low of $90.44 and a 12 month high of $93.49. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 0.61 and a beta of 0.55.
Assurant (NYSE:AIZ) last announced its quarterly earnings data on Thursday, May 3rd. The financial services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $1.89 by $0.25. Assurant had a net margin of 7.41% and a return on equity of 5.17%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the business posted $1.88 EPS. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. equities research analysts forecast that Assurant will post 7.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 19th. Shareholders of record on Tuesday, May 29th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, May 25th. Assurant’s payout ratio is 56.28%.
A number of research analysts have recently issued reports on the stock. ValuEngine raised shares of Assurant from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. SunTrust Banks cut their price objective on shares of Assurant and set a “buy” rating on the stock in a research report on Thursday, April 12th. Finally, UBS started coverage on shares of Assurant in a research report on Friday, March 2nd. They issued a “buy” rating and a $127.00 price objective on the stock.
Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.
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