Northwestern Mutual Investment Management Company LLC decreased its holdings in Assurant, Inc. (NYSE:AIZ) by 79.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,364 shares of the financial services provider’s stock after selling 8,883 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Assurant were worth $204,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Bridgewater Associates LP bought a new position in shares of Assurant in the first quarter valued at approximately $1,896,000. Canada Pension Plan Investment Board boosted its position in shares of Assurant by 93.8% in the first quarter. Canada Pension Plan Investment Board now owns 7,384 shares of the financial services provider’s stock valued at $706,000 after acquiring an additional 3,574 shares during the period. Marshall Wace North America L.P. bought a new position in shares of Assurant in the second quarter valued at approximately $6,137,000. State of Tennessee Treasury Department boosted its position in shares of Assurant by 59.9% in the second quarter. State of Tennessee Treasury Department now owns 240,130 shares of the financial services provider’s stock valued at $24,899,000 after acquiring an additional 89,925 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Assurant by 2,736.9% in the first quarter. BlackRock Inc. now owns 3,755,033 shares of the financial services provider’s stock valued at $359,245,000 after acquiring an additional 3,622,668 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.
Assurant, Inc. (NYSE AIZ) opened at 93.28 on Thursday. The company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 12.26 and a beta of 0.80. The stock has a 50 day moving average of $98.11 and a 200-day moving average of $99.70. Assurant, Inc. has a 52-week low of $78.50 and a 52-week high of $106.99.
Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.05. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 EPS. On average, equities research analysts anticipate that Assurant, Inc. will post $6.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Monday, August 28th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, August 24th. Assurant’s dividend payout ratio is 27.89%.
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Separately, BidaskClub lowered shares of Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
Assurant Company Profile
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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