Mutual of America Capital Management LLC decreased its position in Assurant, Inc. (NYSE:AIZ) by 51.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,596 shares of the financial services provider’s stock after selling 7,102 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Assurant were worth $684,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Thrivent Financial For Lutherans purchased a new stake in Assurant in the second quarter valued at approximately $216,000. PNC Financial Services Group Inc. raised its position in Assurant by 1.4% in the second quarter. PNC Financial Services Group Inc. now owns 6,301 shares of the financial services provider’s stock valued at $653,000 after purchasing an additional 85 shares during the period. ProShare Advisors LLC raised its position in Assurant by 152.1% in the second quarter. ProShare Advisors LLC now owns 32,616 shares of the financial services provider’s stock valued at $3,382,000 after purchasing an additional 19,679 shares during the period. Laurion Capital Management LP purchased a new stake in Assurant in the second quarter valued at approximately $1,680,000. Finally, BT Investment Management Ltd purchased a new stake in Assurant in the second quarter valued at approximately $7,527,000. 90.77% of the stock is currently owned by institutional investors.
Shares of Assurant, Inc. (NYSE AIZ) opened at 95.82 on Wednesday. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 12.59 and a beta of 0.79. The firm has a 50-day moving average price of $94.66 and a 200-day moving average price of $99.37. Assurant, Inc. has a 12 month low of $78.50 and a 12 month high of $106.99.
Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.05. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $1.42 EPS. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. Equities analysts expect that Assurant, Inc. will post $5.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Stockholders of record on Monday, August 28th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, August 24th. Assurant’s dividend payout ratio is presently 27.89%.
Separately, BidaskClub lowered Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
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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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