Candriam Luxembourg S.C.A. boosted its stake in shares of Assurant Inc. (NYSE:AIZ) by 162.0% during the second quarter, Holdings Channel reports. The institutional investor owned 188,867 shares of the company’s stock after buying an additional 116,780 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Assurant were worth $16,302,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Retirement Systems of Alabama raised its position in Assurant by 160.2% in the second quarter. Retirement Systems of Alabama now owns 85,326 shares of the company’s stock valued at $7,364,000 after buying an additional 52,531 shares during the last quarter. Bank of Montreal Can bought a new position in Assurant during the second quarter valued at $6,978,000. Shell Asset Management Co. raised its position in Assurant by 37.4% in the second quarter. Shell Asset Management Co. now owns 5,278 shares of the company’s stock valued at $456,000 after buying an additional 1,437 shares during the last quarter. Meeder Asset Management Inc. raised its position in Assurant by 149.7% in the second quarter. Meeder Asset Management Inc. now owns 17,573 shares of the company’s stock valued at $1,516,000 after buying an additional 10,534 shares during the last quarter. Finally, Oakbrook Investments LLC raised its position in Assurant by 6.8% in the second quarter. Oakbrook Investments LLC now owns 7,800 shares of the company’s stock valued at $673,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 94.52% of the company’s stock.
Assurant Inc. (NYSE:AIZ) traded down 1.25% during midday trading on Friday, hitting $90.14. The stock had a trading volume of 258,898 shares. The company’s 50 day moving average price is $87.65 and its 200-day moving average price is $84.41. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 13.30 and a beta of 0.69. Assurant Inc. has a 52 week low of $64.36 and a 52 week high of $91.52.
Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.71 billion. Assurant had a return on equity of 8.08% and a net margin of 4.97%. Assurant’s quarterly revenue was down 32.0% on a year-over-year basis. During the same period last year, the firm posted $2.07 EPS. Equities analysts anticipate that Assurant Inc. will post $5.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 13th. Investors of record on Monday, August 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 25th. This represents a $2.00 dividend on an annualized basis and a yield of 2.22%. Assurant’s dividend payout ratio is currently 28.94%.
Several research firms have weighed in on AIZ. DOWLING & PARTN reissued a “neutral” rating on shares of Assurant in a research note on Tuesday, August 23rd. Zacks Investment Research raised Assurant from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Goldman Sachs Group Inc. lowered Assurant to a “buy” rating and set a $95.00 target price on the stock. in a research note on Sunday, July 17th. Finally, JPMorgan Chase & Co. reissued a “hold” rating and issued a $77.00 target price on shares of Assurant in a research note on Wednesday, July 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $90.60.
In related news, SVP John Andrew Sondej sold 5,000 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $86.04, for a total transaction of $430,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert W. Stein sold 2,500 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $84.01, for a total value of $210,025.00. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.
Assurant Company Profile
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