LMR Partners LLP acquired a new position in Assurant, Inc. (NYSE:AIZ) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,410 shares of the financial services provider’s stock, valued at approximately $394,000.
Several other hedge funds have also modified their holdings of AIZ. Bremer Trust National Association purchased a new stake in Assurant during the fourth quarter valued at about $42,000. Captrust Financial Advisors raised its position in Assurant by 163.6% during the fourth quarter. Captrust Financial Advisors now owns 543 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 337 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new stake in Assurant during the fourth quarter valued at about $57,000. Doyle Wealth Management purchased a new stake in Assurant during the fourth quarter valued at about $59,000. Finally, Dupont Capital Management Corp purchased a new stake in Assurant during the fourth quarter valued at about $81,000. Institutional investors own 91.32% of the company’s stock.
A number of research firms have weighed in on AIZ. ValuEngine downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. UBS Group lowered their price target on Assurant to $124.00 and set a “buy” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Assurant presently has a consensus rating of “Buy” and a consensus target price of $125.75.
Assurant (NYSE:AIZ) last announced its quarterly earnings data on Tuesday, February 12th. The financial services provider reported $0.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.31. Assurant had a return on equity of 6.92% and a net margin of 3.06%. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.25 billion. During the same period last year, the firm earned $1.84 earnings per share. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. On average, analysts predict that Assurant, Inc. will post 8.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Monday, February 25th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, February 22nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.43%. Assurant’s dividend payout ratio (DPR) is currently 41.38%.
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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; renters insurance and related products; and mortgage solutions comprising property inspection and preservation, valuation and title, and other property risk management services.
Further Reading: Systematic Risk and Investors
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