Toronto Dominion Bank lessened its holdings in Assurant, Inc. (NYSE:AIZ) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,730 shares of the financial services provider’s stock after selling 638 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Assurant worth $5,424,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Qube Research & Technologies Ltd acquired a new position in Assurant in the 2nd quarter worth approximately $1,283,000. Northwestern Mutual Investment Management Company LLC increased its holdings in Assurant by 4.8% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 2,750 shares of the financial services provider’s stock worth $429,000 after buying an additional 125 shares during the period. Geode Capital Management LLC increased its holdings in Assurant by 12.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,137,931 shares of the financial services provider’s stock worth $177,270,000 after buying an additional 127,249 shares during the period. Vanguard Group Inc. increased its holdings in Assurant by 5.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,124,917 shares of the financial services provider’s stock worth $1,112,770,000 after buying an additional 350,826 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Assurant by 2.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,114,800 shares of the financial services provider’s stock worth $174,110,000 after buying an additional 24,179 shares during the period. Institutional investors own 95.81% of the company’s stock.
Several brokerages recently weighed in on AIZ. William Blair began coverage on shares of Assurant in a report on Friday, July 23rd. They issued an “outperform” rating and a $152.41 price target on the stock. Morgan Stanley upped their price objective on Assurant from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, August 16th.
Assurant (NYSE:AIZ) last released its quarterly earnings data on Monday, August 2nd. The financial services provider reported $2.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.50. Assurant had a return on equity of 9.05% and a net margin of 4.74%. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.38 billion. On average, equities research analysts forecast that Assurant, Inc. will post 9.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 21st. Stockholders of record on Monday, August 30th were given a dividend of $0.66 per share. The ex-dividend date was Friday, August 27th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.65%. Assurant’s dividend payout ratio (DPR) is 30.59%.
Assurant, Inc engages in the provision of risk management solutions. It operates through the following segments: Global Housing, Global Lifestyle and Global Preneed. The Global Housing segment provides lender-placed homeowners, multi-family housing and mortgage solutions. The Global Lifestyle segment offers mobile device protection products, related & extended service products and related services for consumer electronics & appliances, vehicle protection services, and credit insurance.
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