Victory Capital Management Inc. reduced its position in Assurant, Inc. (NYSE: AIZ – Get a rating) by 2.3% in the 1st quarter, according to its last Form 13F filed with the Securities and Exchange Commission. The institutional investor held 97,539 shares of the financial services provider after selling 2,281 shares during the quarter. Victory Capital Management Inc. owned approximately 0.17% of Assurant worth $17,736,000 when it last filed with the SEC.
Several other hedge funds and other institutional investors also changed their positions in AIZ. Parallel Advisors LLC increased its stake in Assurant shares by 197.2% in the first quarter. Parallel Advisors LLC now owns 211 shares of the financial services provider valued at $38,000 after buying an additional 140 shares in the last quarter. Quent Capital LLC bought a new position in shares of Assurant in the fourth quarter worth $55,000. Life Planning Partners Inc bought a new stock position in Assurant in the fourth quarter worth $58,000. Dupont Capital Management Corp increased its stake in Assurant shares to 78.6% in the first quarter. Dupont Capital Management Corp now owns 409 shares of the financial services provider valued at $74,000 after buying an additional 180 shares last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Assurant shares by 20.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 447 shares of the financial services provider valued at $81,000 after buying 77 additional shares last quarter. 91.36% of the shares are held by institutional investors.
Analyst upgrades and downgrades
A number of research companies have commented on AIZ. StockNews.com cut Assurant’s shares from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler downgraded Assurant’s shares from an “overweight” rating to a “neutral” rating and lowered her price target for the stock from $205.00 to $185.00 in a research report from the Friday, June 24.
Assurant Trading down 0.6%
Shares of Assured stock opened at $155.29 on Friday. The company has a 50-day moving average of $172.57 and a 200-day moving average of $173.40. The stock has a market capitalization of $8.40 billion, a PE ratio of 7.57, a PEG ratio of 0.70 and a beta of 0.53. Assurant, Inc. has a 52-week low of $144.18 and a 52-week high of $194.12. The company has a debt ratio of 0.48, a quick ratio of 0.40 and a current ratio of 0.24.
Assuring (NYSE: AIZ – Get a rating) last announced its results on Tuesday, August 2. The financial services provider reported earnings per share (EPS) of $2.95 for the quarter, missing analyst consensus estimates of $3.18 per ($0.23). Assurant had a net margin of 11.80% and a return on equity of 11.61%. In the same quarter a year earlier, the company posted earnings per share of $2.99. As a group, sell-side analysts expect Assurant, Inc. to post EPS of 12.8 for the current year.
Assurant announces dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 19. Shareholders of record on Monday August 29 will receive a dividend of $0.68. This represents a dividend of $2.72 on an annualized basis and a dividend yield of 1.75%. Assurant’s payout ratio is currently 13.26%.
About Assurant
Assurant, Inc, together with its subsidiaries, provides lifestyle and housing solutions that support, protect and connect consumer purchases in North America, Latin America, Europe and Asia-Pacific. The Company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, extended service products and related services for mobile devices, consumer electronics and home appliances; vehicle protection and related services; and credit protection and other insurance products.
Featured Articles
Get news and reviews for Assurant Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Assurant and related companies with MarketBeat.com’s FREE daily newsletter.
Comments are closed.