American Century Companies Inc. increased its stake in shares of Assurant, Inc. (NYSE:AIZ) by 1,741.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 104,361 shares of the financial services provider’s stock after acquiring an additional 98,694 shares during the period. American Century Companies Inc. owned 0.19% of Assurant worth $9,969,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. State of Tennessee Treasury Department increased its holdings in shares of Assurant by 59.9% during the 2nd 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 last quarter. Marshall Wace North America L.P. acquired a new position in shares of Assurant during the 2nd quarter valued at about $6,137,000. Dearborn Partners LLC increased its holdings in shares of Assurant by 2.3% during the 2nd quarter. Dearborn Partners LLC now owns 191,553 shares of the financial services provider’s stock valued at $19,862,000 after acquiring an additional 4,242 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Assurant by 27.1% during the 2nd quarter. State of Wisconsin Investment Board now owns 48,390 shares of the financial services provider’s stock valued at $5,018,000 after acquiring an additional 10,320 shares during the last quarter. Finally, PGGM Investments increased its holdings in shares of Assurant by 426.6% during the 3rd quarter. PGGM Investments now owns 186,407 shares of the financial services provider’s stock valued at $17,806,000 after acquiring an additional 151,006 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.
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Assurant (NYSE:AIZ) last released its earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.79) by $0.39. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.59 billion. Assurant had a return on equity of 3.55% and a net margin of 3.67%. The company’s revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. equities research analysts forecast that Assurant, Inc. will post 3.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 18th. Shareholders of record on Monday, November 27th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $2.24 dividend on an annualized basis and a yield of 2.27%. This is a positive change from Assurant’s previous quarterly dividend of $0.53. Assurant’s dividend payout ratio (DPR) is 50.72%.
A number of research firms have issued reports on AIZ. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $115.00 target price on shares of Assurant in a report on Thursday, October 12th. BidaskClub lowered Assurant from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd.
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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