Cerebellum GP LLC lessened its position in shares of Assurant, Inc. (NYSE:AIZ) by 6.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,256 shares of the financial services provider’s stock after selling 228 shares during the period. Cerebellum GP LLC’s holdings in Assurant were worth $346,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Oakbrook Investments LLC grew its holdings in Assurant by 1.8% in the second quarter. Oakbrook Investments LLC now owns 6,086 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 105 shares during the period. Nissay Asset Management Corp Japan ADV grew its holdings in Assurant by 2.8% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 4,982 shares of the financial services provider’s stock worth $473,000 after purchasing an additional 134 shares during the period. Crossmark Global Holdings Inc. grew its holdings in Assurant by 0.9% in the first quarter. Crossmark Global Holdings Inc. now owns 15,016 shares of the financial services provider’s stock worth $1,425,000 after purchasing an additional 138 shares during the period. Private Capital Group LLC grew its holdings in Assurant by 25.2% in the first quarter. Private Capital Group LLC now owns 745 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 150 shares during the period. Finally, Pittenger & Anderson Inc. grew its holdings in Assurant by 0.9% in the first quarter. Pittenger & Anderson Inc. now owns 18,300 shares of the financial services provider’s stock worth $1,737,000 after purchasing an additional 165 shares during the period. 91.04% of the stock is owned by institutional investors and hedge funds.
Separately, UBS Group set a €117.00 ($136.05) price objective on shares of SAP and gave the company a “neutral” rating in a report on Tuesday, May 21st.
Shares of NYSE AIZ traded up $0.78 during mid-day trading on Tuesday, reaching $112.32. 16,101 shares of the company’s stock traded hands, compared to its average volume of 435,995. The company has a market capitalization of $6.86 billion, a PE ratio of 19.37 and a beta of 0.55. The business has a 50-day moving average of $107.69. Assurant, Inc. has a 1-year low of $82.31 and a 1-year high of $112.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.47 and a current ratio of 0.47.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Monday, May 6th. The financial services provider reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.08. The firm had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Assurant had a net margin of 3.46% and a return on equity of 7.23%. The business’s revenue was up 48.6% on a year-over-year basis. During the same period last year, the company earned $2.14 earnings per share. As a group, sell-side analysts anticipate that Assurant, Inc. will post 8.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders 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 dividend yield of 2.14%. The ex-dividend date is Friday, August 23rd. Assurant’s dividend payout ratio is currently 41.38%.
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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