Metropolitan Life Insurance Co. NY trimmed its position in Assurant, Inc. (NYSE:AIZ) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,564 shares of the financial services provider’s stock after selling 126 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Assurant were worth $677,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in AIZ. Squarepoint Ops LLC raised its holdings in shares of Assurant by 228.2% during the fourth quarter. Squarepoint Ops LLC now owns 49,238 shares of the financial services provider’s stock valued at $4,404,000 after purchasing an additional 34,237 shares during the period. Suntrust Banks Inc. increased its position in shares of Assurant by 2,632.8% during the fourth quarter. Suntrust Banks Inc. now owns 69,824 shares of the financial services provider’s stock worth $6,246,000 after acquiring an additional 67,269 shares in the last quarter. Prana Capital Management LP increased its position in shares of Assurant by 630.3% during the fourth quarter. Prana Capital Management LP now owns 169,429 shares of the financial services provider’s stock worth $15,154,000 after acquiring an additional 146,229 shares in the last quarter. Bank of America Corp DE increased its position in shares of Assurant by 20.2% during the fourth quarter. Bank of America Corp DE now owns 176,023 shares of the financial services provider’s stock worth $15,744,000 after acquiring an additional 29,587 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Assurant during the fourth quarter worth about $325,000. 94.47% of the stock is currently owned by institutional investors and hedge funds.
Separately, UBS Group decreased their target price on shares of Assurant to $124.00 and set a “buy” rating for the company in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Assurant currently has an average rating of “Buy” and an average target price of $125.75.
Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, February 12th. The financial services provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.46 by $0.31. Assurant had a net margin of 3.06% and a return on equity of 6.92%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. On average, equities analysts predict that Assurant, Inc. will post 8.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, February 25th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, February 22nd. Assurant’s dividend payout ratio is currently 41.38%.
In other news, insider Tpg Advisors Vi-Aiv, Inc. sold 7,869,230 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $98.15, for a total transaction of $772,364,924.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is owned by corporate insiders.
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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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.
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