Bank of New York Mellon Corp boosted its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 56.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,611,053 shares of the financial services provider’s stock after buying an additional 584,393 shares during the period. Bank of New York Mellon Corp’s holdings in Assurant were worth $166,729,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of AIZ. ING Groep NV boosted its stake in Assurant by 11,916.0% during the second quarter. ING Groep NV now owns 644,178 shares of the financial services provider’s stock valued at $66,666,000 after buying an additional 638,817 shares during the period. First Trust Advisors LP boosted its stake in Assurant by 23.6% during the second quarter. First Trust Advisors LP now owns 481,837 shares of the financial services provider’s stock valued at $49,865,000 after buying an additional 92,052 shares during the period. USS Investment Management Ltd boosted its stake in Assurant by 35.8% during the second quarter. USS Investment Management Ltd now owns 310,900 shares of the financial services provider’s stock valued at $32,175,000 after buying an additional 81,900 shares during the period. OppenheimerFunds Inc. boosted its stake in Assurant by 793.7% during the second quarter. OppenheimerFunds Inc. now owns 80,654 shares of the financial services provider’s stock valued at $8,347,000 after buying an additional 71,629 shares during the period. Finally, Calamos Advisors LLC bought a new stake in Assurant during the second quarter valued at $5,606,000. 94.11% of the stock is owned by institutional investors.
Shares of AIZ stock opened at $96.65 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. Assurant, Inc. has a 12-month low of $84.34 and a 12-month high of $111.43. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 24.28 and a beta of 0.56.
Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, August 7th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.35. Assurant had a return on equity of 5.62% and a net margin of 6.37%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. Equities research analysts anticipate that Assurant, Inc. will post 6.3 earnings per share for the current fiscal year.
In other Assurant news, EVP Christopher J. Pagano sold 1,250 shares of Assurant stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $102.49, for a total transaction of $128,112.50. Following the completion of the sale, the executive vice president now owns 56,843 shares of the company’s stock, valued at $5,825,839.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Gene Mergelmeyer sold 14,144 shares of Assurant stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $109.41, for a total value of $1,547,495.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,215,394 shares of company stock valued at $228,135,608. Corporate insiders own 0.93% of the company’s stock.
AIZ has been the subject of several research analyst reports. Keefe, Bruyette & Woods initiated coverage on Assurant in a research note on Monday, July 16th. They set an “outperform” rating and a $121.00 price target for the company. SunTrust Banks lifted their price target on Assurant to $129.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 11th. They noted that the move was a valuation call. Morgan Stanley initiated coverage on Assurant in a research note on Tuesday, July 10th. They set an “overweight” rating and a $125.00 price target for the company. Finally, UBS Group lifted their price target on Assurant from $118.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Assurant currently has an average rating of “Buy” and a consensus price target of $128.75.
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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