Pacer Advisors Inc. lifted its position in Assurant, Inc. (NYSE:AIZ) by 12.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,863 shares of the financial services provider’s stock after buying an additional 552 shares during the period. Pacer Advisors Inc.’s holdings in Assurant were worth $517,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AIZ. Bremer Bank National Association bought a new stake in shares of Assurant in the 1st quarter valued at $45,000. Thor Advisors LLC bought a new stake in shares of Assurant in the 1st quarter valued at $69,000. Benjamin Edwards Inc. increased its position in shares of Assurant by 30.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 781 shares of the financial services provider’s stock valued at $83,000 after buying an additional 181 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Assurant in the 2nd quarter valued at $89,000. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Assurant by 21.4% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 850 shares of the financial services provider’s stock valued at $90,000 after buying an additional 150 shares in the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.
In other news, EVP Michael P. Campbell sold 5,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $124.26, for a total transaction of $683,430.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Gene Mergelmeyer sold 15,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $124.24, for a total transaction of $1,863,600.00. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by corporate insiders.
Assurant (NYSE:AIZ) last released its earnings results on Tuesday, August 6th. The financial services provider reported $2.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.13 by $0.21. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Assurant had a return on equity of 7.58% and a net margin of 4.00%. The company’s revenue was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 EPS. As a group, equities research analysts forecast that Assurant, Inc. will post 8.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, August 26th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, August 23rd. Assurant’s dividend payout ratio (DPR) is presently 41.38%.
A number of equities analysts have issued reports on AIZ shares. UBS Group increased their target price on Assurant from $142.00 to $153.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Morgan Stanley increased their target price on Assurant from $119.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th.
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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