Stifel Financial Corp bought a new stake in Assurant, Inc. (NYSE:AIZ) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,165 shares of the financial services provider’s stock, valued at approximately $207,000.
Other hedge funds have also recently made changes to their positions in the company. Thrivent Financial For Lutherans purchased a new position in shares of Assurant in the second quarter valued at $216,000. Achmea Investment Management B.V. purchased a new position in shares of Assurant in the second quarter valued at $244,000. Edgestream Partners L.P. purchased a new position in shares of Assurant in the second quarter valued at $248,000. Trexquant Investment LP purchased a new position in shares of Assurant in the third quarter valued at $258,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Assurant in the second quarter valued at $283,000. Institutional investors and hedge funds own 90.29% of the company’s stock.
Separately, SunTrust Banks restated a “buy” rating and issued a $115.00 target price on shares of Assurant in a research note on Thursday, October 12th.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.79) by $0.39. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Assurant had a net margin of 3.67% and a return on equity of 3.55%. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. equities analysts predict that Assurant, Inc. will post 3.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 18th. Investors of record on Monday, November 27th were issued a $0.56 dividend. The ex-dividend date was Friday, November 24th. This is a boost from Assurant’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a yield of 2.25%. Assurant’s dividend payout ratio is currently 53.59%.
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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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