2,900 Shares in Assurant, Inc. (AIZ) Acquired by Bailard Inc.

Bailard Inc. acquired a new position in Assurant, Inc. (NYSE:AIZ) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,900 shares of the financial services provider’s stock, valued at approximately $259,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Assurant by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,653,635 shares of the financial services provider’s stock valued at $610,310,000 after purchasing an additional 113,694 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Assurant by 2.1% in the 3rd quarter. Vanguard Group Inc now owns 5,653,635 shares of the financial services provider’s stock worth $610,310,000 after purchasing an additional 113,694 shares during the period. FMR LLC lifted its stake in shares of Assurant by 0.4% in the 3rd quarter. FMR LLC now owns 3,966,505 shares of the financial services provider’s stock worth $428,185,000 after purchasing an additional 14,264 shares during the period. Bank of New York Mellon Corp raised its stake in Assurant by 56.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,611,053 shares of the financial services provider’s stock worth $166,729,000 after acquiring an additional 584,393 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Assurant by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 749,807 shares of the financial services provider’s stock worth $80,941,000 after acquiring an additional 21,903 shares during the period. 92.12% of the stock is owned by hedge funds and other institutional investors.

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In other Assurant news, EVP Christopher J. Pagano sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, December 10th. The stock was sold at an average price of $90.17, for a total value of $112,712.50. Following the sale, the executive vice president now owns 53,423 shares in the company, valued at approximately $4,817,151.91. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.93% of the stock is owned by corporate insiders.

Separately, ValuEngine upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, November 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $128.75.

AIZ stock opened at $97.13 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $6.13 billion, a P/E ratio of 24.40 and a beta of 0.61. Assurant, Inc. has a 1-year low of $82.31 and a 1-year high of $111.43.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, February 12th. The financial services provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.31. Assurant had a net margin of 7.27% and a return on equity of 8.27%. The business had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the company posted $1.84 earnings per share. The firm’s revenue was up 38.2% on a year-over-year basis. On average, sell-side analysts anticipate that Assurant, Inc. will post 5.64 EPS for the current fiscal year.

Assurant declared that its board has approved a stock buyback plan on Monday, November 5th that permits the company to repurchase $600.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 9.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 18th. Investors of record on Monday, February 25th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, February 22nd. This represents a $2.40 dividend on an annualized basis and a yield of 2.47%. Assurant’s dividend payout ratio is currently 60.30%.

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Assurant Company Profile

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.

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