NN Investment Partners Holdings N.V. Trims Position in Assurant, Inc. (NYSE:AIZ)

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NN Investment Partners Holdings N.V. lessened its stake in shares of Assurant, Inc. (NYSE:AIZ) by 88.4% in the second quarter, Holdings Channel reports. The institutional investor owned 374 shares of the financial services provider’s stock after selling 2,862 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Assurant were worth $39,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AIZ. Norges Bank purchased a new position in Assurant in the 4th quarter worth approximately $98,863,000. Nuveen Asset Management LLC increased its stake in Assurant by 84.5% in the 4th quarter. Nuveen Asset Management LLC now owns 629,913 shares of the financial services provider’s stock worth $82,569,000 after purchasing an additional 288,538 shares during the period. Viking Global Investors LP increased its stake in Assurant by 15.4% in the 1st quarter. Viking Global Investors LP now owns 2,148,405 shares of the financial services provider’s stock worth $223,627,000 after purchasing an additional 287,138 shares during the period. Samlyn Capital LLC increased its stake in shares of Assurant by 22.2% during the first quarter. Samlyn Capital LLC now owns 1,136,190 shares of the financial services provider’s stock valued at $118,266,000 after buying an additional 206,764 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Assurant by 13.3% during the first quarter. Bank of New York Mellon Corp now owns 1,730,969 shares of the financial services provider’s stock valued at $180,176,000 after buying an additional 202,594 shares during the period. 93.97% of the stock is owned by institutional investors and hedge funds.

Shares of AIZ stock opened at $107.47 on Friday. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 18.99 and a beta of 0.55. The business’s fifty day moving average is $103.61 and its 200 day moving average is $111.34. Assurant, Inc. has a twelve month low of $76.27 and a twelve month high of $142.61. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.41.

Assurant (NYSE:AIZ) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $2.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.42 by $0.22. Assurant had a return on equity of 10.03% and a net margin of 3.59%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts expect that Assurant, Inc. will post 9.09 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Monday, August 31st will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, August 28th. Assurant’s dividend payout ratio (DPR) is 29.47%.

Several research firms have recently issued reports on AIZ. SunTrust Banks reduced their target price on Assurant from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. ValuEngine cut Assurant from a “hold” rating to a “sell” rating in a research note on Thursday, April 23rd. Finally, Morgan Stanley boosted their target price on Assurant from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th.

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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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