Commonwealth Bank of Australia lifted its holdings in Assurant, Inc. (NYSE:AIZ) by 18.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,734 shares of the financial services provider’s stock after buying an additional 2,700 shares during the quarter. Commonwealth Bank of Australia’s holdings in Assurant were worth $1,581,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of AIZ. Bremer Trust National Association purchased a new stake in shares of Assurant in the fourth quarter worth approximately $42,000. Dubuque Bank & Trust Co. purchased a new stake in shares of Assurant in the fourth quarter worth approximately $57,000. Doyle Wealth Management purchased a new stake in shares of Assurant in the fourth quarter worth approximately $59,000. Dupont Capital Management Corp purchased a new stake in shares of Assurant in the fourth quarter worth approximately $81,000. Finally, Old North State Trust LLC raised its holdings in shares of Assurant by 35.4% in the fourth quarter. Old North State Trust LLC now owns 1,087 shares of the financial services provider’s stock worth $97,000 after buying an additional 284 shares during the period. Hedge funds and other institutional investors own 91.32% of the company’s stock.
Separately, ValuEngine downgraded Assurant from a “buy” rating to a “hold” rating in a report on Friday, November 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $128.75.
Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, February 12th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.31. Assurant had a return on equity of 6.92% and a net margin of 3.06%. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, equities research analysts anticipate that Assurant, Inc. will post 8.54 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Monday, February 25th will be paid a $0.60 dividend. The ex-dividend date is Friday, February 22nd. This represents a $2.40 annualized dividend and a yield of 2.44%. Assurant’s dividend payout ratio (DPR) is currently 41.38%.
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Assurant Company Profile
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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