Stratos Wealth Partners LTD. boosted its holdings in Assurant, Inc. (NYSE:AIZ) by 33.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,069 shares of the financial services provider’s stock after buying an additional 2,271 shares during the period. Stratos Wealth Partners LTD.’s holdings in Assurant were worth $937,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Sowell Financial Services LLC boosted its stake in Assurant by 90.5% in the 1st quarter. Sowell Financial Services LLC now owns 400 shares of the financial services provider’s stock worth $42,000 after buying an additional 190 shares during the last quarter. Pearl River Capital LLC acquired a new position in shares of Assurant in the 1st quarter valued at about $45,000. Fifth Third Bancorp lifted its stake in shares of Assurant by 20.5% in the 1st quarter. Fifth Third Bancorp now owns 859 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 146 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Assurant by 10.5% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,021 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 97 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Assurant in the 1st quarter valued at about $124,000. 93.97% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:AIZ opened at $107.47 on Friday. The company has a market cap of $6.41 billion, a P/E ratio of 18.99 and a beta of 0.55. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.48 and a current ratio of 0.48. Assurant, Inc. has a one year low of $76.27 and a one year high of $142.61. The business’s 50-day simple moving average is $103.61 and its 200 day simple moving average is $111.34.
Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.42 by $0.22. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.54 billion. Assurant had a return on equity of 10.03% and a net margin of 3.59%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $2.21 EPS. Analysts predict that Assurant, Inc. will post 9.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Investors of record on Monday, August 31st will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.52 annualized dividend and a dividend yield of 2.34%. Assurant’s payout ratio is currently 29.47%.
AIZ has been the topic of several research analyst reports. ValuEngine lowered Assurant from a “hold” rating to a “sell” rating in a research note on Thursday, April 23rd. SunTrust Banks reduced their price objective on Assurant from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Finally, Morgan Stanley lifted their price objective on Assurant from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th.
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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