Stoneridge Investment Partners LLC reduced its stake in Assurant, Inc. (NYSE:AIZ) by 18.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,979 shares of the financial services provider’s stock after selling 7,796 shares during the period. Stoneridge Investment Partners LLC’s holdings in Assurant were worth $3,129,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dubuque Bank & Trust Co. acquired a new position in Assurant during the fourth quarter valued at approximately $57,000. Dupont Capital Management Corp acquired a new position in Assurant during the fourth quarter valued at approximately $81,000. Rampart Investment Management Company LLC raised its position in Assurant by 104.3% during the third quarter. Rampart Investment Management Company LLC now owns 1,097 shares of the financial services provider’s stock valued at $57,382,000 after purchasing an additional 560 shares in the last quarter. SOL Capital Management CO acquired a new position in Assurant during the third quarter valued at approximately $205,000. Finally, Seven Eight Capital LP acquired a new position in Assurant during the third quarter valued at approximately $227,000. Institutional investors and hedge funds own 92.12% of the company’s stock.
Separately, ValuEngine upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $128.75.
AIZ traded down $0.33 during trading on Monday, hitting $96.80. 1,822 shares of the stock traded hands, compared to its average volume of 412,413. The company has a market cap of $6.03 billion, a P/E ratio of 24.29 and a beta of 0.61. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.51 and a quick ratio of 0.51. Assurant, Inc. has a twelve month low of $82.31 and a twelve month high of $111.43.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Monday, February 25th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, February 22nd. This represents a $2.40 annualized dividend and a dividend yield of 2.48%. Assurant’s dividend payout ratio (DPR) is presently 60.30%.
Assurant declared that its Board of Directors has initiated a stock repurchase program on Monday, November 5th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, EVP Christopher J. Pagano sold 1,250 shares of the company’s stock in a transaction on Monday, December 10th. The shares were sold at an average price of $90.17, for a total transaction of $112,712.50. Following the completion of the transaction, the executive vice president now directly owns 53,423 shares in the company, valued at $4,817,151.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Christopher J. Pagano sold 1,107 shares of the company’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $99.95, for a total transaction of $110,644.65. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.
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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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