Crossmark Global Holdings Inc. lifted its holdings in Assurant, Inc. (NYSE:AIZ) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,824 shares of the financial services provider’s stock after purchasing an additional 144 shares during the period. Crossmark Global Holdings Inc.’s holdings in Assurant were worth $2,243,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Metropolitan Life Insurance Co NY increased its position in shares of Assurant by 14.8% in the first quarter. Metropolitan Life Insurance Co NY now owns 8,681 shares of the financial services provider’s stock worth $823,000 after acquiring an additional 1,117 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Assurant by 35.7% in the second quarter. Envestnet Asset Management Inc. now owns 10,071 shares of the financial services provider’s stock worth $1,071,000 after acquiring an additional 2,649 shares in the last quarter. Crestline Management LP purchased a new position in shares of Assurant in the second quarter worth approximately $1,563,000. Holocene Advisors LP increased its position in shares of Assurant by 78.5% in the second quarter. Holocene Advisors LP now owns 5,451 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 2,398 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Assurant by 1,476.5% in the second quarter. KBC Group NV now owns 61,498 shares of the financial services provider’s stock worth $6,543,000 after acquiring an additional 57,597 shares in the last quarter. 91.56% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on AIZ. Morgan Stanley lifted their target price on shares of Assurant from $119.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. UBS Group boosted their price objective on shares of Assurant from $153.00 to $154.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, SunTrust Banks boosted their target price on shares of Assurant from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd.
Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 6th. The financial services provider reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.13 by $0.21. Assurant had a net margin of 4.00% and a return on equity of 7.58%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. The firm’s quarterly revenue was up 39.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Assurant, Inc. will post 8.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, August 26th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.91%. The ex-dividend date was Friday, August 23rd. Assurant’s payout ratio is 41.38%.
In related news, COO Gene Mergelmeyer sold 15,000 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $124.24, for a total transaction of $1,863,600.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael P. Campbell sold 5,500 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $124.26, for a total transaction of $683,430.00. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate 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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