Westpac Banking Corp decreased its position in Assurant, Inc. (NYSE:AIZ) by 95.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,221 shares of the financial services provider’s stock after selling 92,890 shares during the period. Westpac Banking Corp’s holdings in Assurant were worth $438,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of Assurant in the first quarter worth approximately $122,000. State of Alaska Department of Revenue boosted its holdings in Assurant by 6.2% in the second quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 114 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in Assurant in the first quarter valued at $213,000. Atria Investments LLC bought a new stake in Assurant in the second quarter valued at $214,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Assurant in the first quarter valued at $228,000. Hedge funds and other institutional investors own 90.78% of the company’s stock.
Shares of Assurant, Inc. (NYSE:AIZ) opened at 93.85 on Friday. The company has a 50-day moving average of $98.79 and a 200 day moving average of $99.79. The company has a market cap of $5.06 billion, a PE ratio of 12.33 and a beta of 0.80. Assurant, Inc. has a 12-month low of $78.50 and a 12-month high of $106.99.
Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.05. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. Assurant had a return on equity of 6.70% and a net margin of 6.53%. Assurant’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.42 EPS. On average, equities research analysts expect that Assurant, Inc. will post $6.64 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Monday, August 28th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, August 24th. Assurant’s dividend payout ratio (DPR) is presently 27.89%.
Separately, BidaskClub cut shares of Assurant from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th.
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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