Quadrant Capital Group LLC raised its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 77.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,197 shares of the financial services provider’s stock after acquiring an additional 521 shares during the quarter. Quadrant Capital Group LLC’s holdings in Assurant were worth $104,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in AIZ. Beacon Investment Advisory Services Inc. raised its stake in Assurant by 5.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 2,517 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 135 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Assurant by 9.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,758 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 150 shares during the last quarter. Private Capital Group LLC raised its stake in Assurant by 25.2% during the 1st quarter. Private Capital Group LLC now owns 745 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 150 shares during the last quarter. CWM Advisors LLC raised its stake in shares of Assurant by 6.3% during the 4th quarter. CWM Advisors LLC now owns 3,008 shares of the financial services provider’s stock worth $269,000 after buying an additional 179 shares in the last quarter. Finally, Old North State Trust LLC raised its stake in shares of Assurant by 16.7% during the 1st quarter. Old North State Trust LLC now owns 1,268 shares of the financial services provider’s stock worth $120,000 after buying an additional 181 shares in the last quarter. 91.01% of the stock is owned by institutional investors and hedge funds.
Shares of AIZ traded up $0.22 on Wednesday, reaching $100.89. The stock had a trading volume of 1,011,766 shares, compared to its average volume of 599,250. The stock has a market cap of $6.17 billion, a P/E ratio of 17.39 and a beta of 0.62. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.47 and a quick ratio of 0.47. Assurant, Inc. has a twelve month low of $82.31 and a twelve month high of $111.43.
Assurant (NYSE:AIZ) last announced its earnings results on Monday, May 6th. The financial services provider reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.08. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Assurant had a return on equity of 7.23% and a net margin of 3.46%. Assurant’s quarterly revenue was up 48.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 EPS. Research analysts expect that Assurant, Inc. will post 8.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, May 24th. Assurant’s dividend payout ratio (DPR) is presently 41.38%.
Separately, UBS Group cut their target price on Assurant to $124.00 and set a “buy” rating for the company in a research note on Friday, March 15th. One 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 a consensus rating of “Buy” and an average target price of $128.00.
In other news, insider Tpg Advisors Vi-Aiv, Inc. sold 7,869,230 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $98.15, for a total transaction of $772,364,924.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.68% of the stock is owned by company insiders.
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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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