Sentry Investment Management LLC decreased its position in Assurant, Inc. (NYSE:AIZ) by 8.2% in the first quarter, HoldingsChannel.com reports. The firm owned 3,235 shares of the financial services provider’s stock after selling 288 shares during the period. Sentry Investment Management LLC’s holdings in Assurant were worth $307,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of AIZ. Norges Bank acquired a new position in Assurant in the 4th quarter worth approximately $146,940,000. Samlyn Capital LLC boosted its stake in Assurant by 70.3% in the 4th quarter. Samlyn Capital LLC now owns 632,761 shares of the financial services provider’s stock worth $56,594,000 after purchasing an additional 261,115 shares during the period. Strycker View Capital LLC boosted its stake in Assurant by 279.4% in the 4th quarter. Strycker View Capital LLC now owns 265,580 shares of the financial services provider’s stock worth $23,753,000 after purchasing an additional 195,580 shares during the period. Bessemer Group Inc. boosted its stake in Assurant by 54.5% in the 4th quarter. Bessemer Group Inc. now owns 424,699 shares of the financial services provider’s stock worth $37,985,000 after purchasing an additional 149,781 shares during the period. Finally, Prana Capital Management LP boosted its stake in Assurant by 630.3% in the 4th quarter. Prana Capital Management LP now owns 169,429 shares of the financial services provider’s stock worth $15,154,000 after purchasing an additional 146,229 shares during the period. 91.01% of the stock is owned by hedge funds and other institutional investors.
Separately, UBS Group cut 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 investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Assurant currently has an average rating of “Buy” and a consensus target price of $128.00.
Assurant (NYSE:AIZ) last released its earnings results on Monday, May 6th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.08. Assurant had a net margin of 3.46% and a return on equity of 7.23%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm earned $2.14 EPS. The company’s revenue was up 48.6% compared to the same quarter last year. On average, research analysts expect that Assurant, Inc. will post 8.59 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, May 28th will be given a $0.60 dividend. The ex-dividend date is Friday, May 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.38%. Assurant’s payout ratio is 41.38%.
In other news, insider Tpg Advisors Vi-Aiv, Inc. sold 7,869,230 shares of the firm’s stock in a transaction 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 SEC, which is accessible through this link. 0.68% of the stock is currently owned by company 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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