Assurant, Inc. (AIZ) Shares Bought by Strs Ohio

Strs Ohio increased its holdings in Assurant, Inc. (NYSE:AIZ) by 9.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,043 shares of the financial services provider’s stock after buying an additional 501 shares during the quarter. Strs Ohio’s holdings in Assurant were worth $540,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AIZ. Bank of New York Mellon Corp lifted its holdings in Assurant by 56.9% in the second quarter. Bank of New York Mellon Corp now owns 1,611,053 shares of the financial services provider’s stock valued at $166,729,000 after buying an additional 584,393 shares during the period. Bank of Montreal Can lifted its holdings in Assurant by 39.4% in the third quarter. Bank of Montreal Can now owns 34,766 shares of the financial services provider’s stock valued at $3,753,000 after buying an additional 9,829 shares during the period. Nisa Investment Advisors LLC increased its stake in Assurant by 69.0% in the third quarter. Nisa Investment Advisors LLC now owns 51,803 shares of the financial services provider’s stock valued at $5,592,000 after purchasing an additional 21,148 shares in the last quarter. Davis R M Inc. increased its stake in Assurant by 35.2% in the third quarter. Davis R M Inc. now owns 4,905 shares of the financial services provider’s stock valued at $529,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Oakbrook Investments LLC increased its stake in Assurant by 36.1% in the third quarter. Oakbrook Investments LLC now owns 6,031 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 1,600 shares in the last quarter. Institutional investors own 92.12% of the company’s stock.

NYSE:AIZ traded down $0.26 during trading hours on Monday, hitting $96.87. The stock had a trading volume of 752 shares, compared to its average volume of 412,413. Assurant, Inc. has a one year low of $82.31 and a one year high of $111.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $6.03 billion, a PE ratio of 24.35 and a beta of 0.61.

Assurant announced that its Board of Directors has initiated a stock buyback program on Monday, November 5th that authorizes the company to buyback $600.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 9.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Shareholders of record on Monday, February 25th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, February 22nd. Assurant’s payout ratio is presently 60.30%.

In other news, EVP Christopher J. Pagano sold 1,250 shares of the stock in a transaction on Monday, December 10th. The shares were sold at an average price of $90.17, for a total transaction of $112,712.50. Following the completion of the sale, the executive vice president now owns 53,423 shares of the company’s stock, valued at $4,817,151.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher J. Pagano sold 1,107 shares of the stock in a transaction on Friday, November 16th. The stock was sold at an average price of $99.95, for a total transaction of $110,644.65. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Separately, ValuEngine downgraded shares of Assurant from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Assurant currently has a consensus rating of “Buy” and an average target price of $128.75.

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Assurant Profile

Assurant, Inc, through its subsidiaries, provides risk management solutions for housing and lifestyle markets in North America, Latin America, Europe, and the Asia Pacific. The company operates through three segments: Global Housing, Global Lifestyle, and Global Preneed. Its Global Housing segment provides lender-placed homeowners, manufactured housing, and flood insurance; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.

Further Reading: QQQ ETF

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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