Assurant, Inc. (NYSE:AIZ) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.
Shares of Assurant (NYSE AIZ) traded up 0.93% on Friday, reaching $104.48. The company’s stock had a trading volume of 617,958 shares. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 12.75 and a beta of 0.77. Assurant has a 1-year low of $78.50 and a 1-year high of $106.02. The company’s 50 day moving average is $100.91 and its 200-day moving average is $96.60.
Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.36. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.62 billion. Assurant had a return on equity of 6.51% and a net margin of 7.05%. Equities research analysts expect that Assurant will post $6.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, May 30th will be paid a $0.53 dividend. The ex-dividend date is Thursday, May 25th. This represents a $2.12 annualized dividend and a yield of 2.03%. Assurant’s dividend payout ratio is 26.04%.
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In other Assurant news, EVP Christopher J. Pagano sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $97.75, for a total value of $195,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.83% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in AIZ. ING Groep NV raised its stake in Assurant by 48.3% in the fourth quarter. ING Groep NV now owns 3,284 shares of the financial services provider’s stock valued at $304,000 after buying an additional 1,070 shares in the last quarter. State Street Corp raised its stake in Assurant by 6.8% in the fourth quarter. State Street Corp now owns 3,048,679 shares of the financial services provider’s stock valued at $283,098,000 after buying an additional 192,912 shares in the last quarter. Federated Investors Inc. PA raised its position in shares of Assurant by 374.3% in the fourth quarter. Federated Investors Inc. PA now owns 1,845 shares of the financial services provider’s stock worth $171,000 after buying an additional 1,456 shares during the period. O Shaughnessy Asset Management LLC raised its position in shares of Assurant by 6,908.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,364 shares of the financial services provider’s stock worth $312,000 after buying an additional 3,316 shares during the period. Finally, Aviva PLC raised its position in shares of Assurant by 3.1% in the fourth quarter. Aviva PLC now owns 39,974 shares of the financial services provider’s stock worth $3,714,000 after buying an additional 1,210 shares during the period. Hedge funds and other institutional investors own 92.19% of the company’s stock.
Assurant Company Profile
Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).
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