Beacon Investment Advisory Services Inc. bought a new stake in Assurant, Inc. (NYSE:AIZ) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,415 shares of the financial services provider’s stock, valued at approximately $326,000.
Several other hedge funds have also modified their holdings of the company. Vident Investment Advisory LLC purchased a new position in shares of Assurant in the 3rd quarter valued at $2,324,000. Cohen & Steers Inc. raised its stake in shares of Assurant by 38.3% in the 3rd quarter. Cohen & Steers Inc. now owns 53,027 shares of the financial services provider’s stock valued at $5,065,000 after acquiring an additional 14,694 shares during the period. First Republic Investment Management Inc. grew its holdings in Assurant by 2.9% during the 3rd quarter. First Republic Investment Management Inc. now owns 76,081 shares of the financial services provider’s stock valued at $7,268,000 after purchasing an additional 2,160 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Assurant during the 3rd quarter valued at $331,000. Finally, Stifel Financial Corp acquired a new stake in Assurant during the 3rd quarter valued at $207,000. 90.48% of the stock is currently owned by institutional investors and hedge funds.
AIZ has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Assurant from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. SunTrust Banks reaffirmed a “buy” rating and set a $115.00 price target on shares of Assurant in a report on Thursday, October 12th.
Assurant (NYSE:AIZ) last released its quarterly earnings results on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.79) by $0.39. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. Assurant had a net margin of 3.67% and a return on equity of 3.55%. The business’s revenue was down 13.5% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. equities analysts anticipate that Assurant, Inc. will post 3.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, November 27th will be issued a dividend of $0.56 per share. 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. The ex-dividend date is Friday, November 24th. Assurant’s dividend payout ratio (DPR) is presently 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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