State Treasurer State of Michigan cut its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 16.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,757 shares of the financial services provider’s stock after selling 2,900 shares during the quarter. State Treasurer State of Michigan’s holdings in Assurant were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Assurant by 10.9% during the first quarter. BlackRock Inc. now owns 4,021,908 shares of the financial services provider’s stock worth $381,720,000 after buying an additional 395,140 shares during the period. Neuberger Berman Group LLC lifted its position in Assurant by 42.0% during the first quarter. Neuberger Berman Group LLC now owns 843,392 shares of the financial services provider’s stock worth $80,046,000 after buying an additional 249,325 shares during the period. Geode Capital Management LLC lifted its position in Assurant by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 711,913 shares of the financial services provider’s stock worth $63,569,000 after buying an additional 19,203 shares during the period. USS Investment Management Ltd lifted its position in Assurant by 46.3% during the second quarter. USS Investment Management Ltd now owns 384,500 shares of the financial services provider’s stock worth $40,872,000 after buying an additional 121,600 shares during the period. Finally, California Public Employees Retirement System lifted its position in Assurant by 6.6% during the first quarter. California Public Employees Retirement System now owns 383,098 shares of the financial services provider’s stock worth $36,360,000 after buying an additional 23,732 shares during the period. Hedge funds and other institutional investors own 90.53% of the company’s stock.

Separately, UBS Group increased their target price on Assurant to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. They noted that the move was a valuation call.

NYSE AIZ traded up $1.22 during trading hours on Tuesday, hitting $121.98. 1,201 shares of the company’s stock were exchanged, compared to its average volume of 474,030. The stock has a 50 day simple moving average of $111.53. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 20.96 and a beta of 0.54. The company has a quick ratio of 0.47, a current ratio of 0.35 and a debt-to-equity ratio of 0.35. Assurant, Inc. has a 12-month low of $82.31 and a 12-month high of $122.38.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.13 by $0.21. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.35 billion. Assurant had a return on equity of 7.58% and a net margin of 4.00%. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same period last year, the business posted $2.13 EPS. On average, research analysts anticipate that Assurant, Inc. will post 8.61 EPS for the current fiscal year.

The company 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 $0.60 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.97%. Assurant’s dividend payout ratio (DPR) is 41.38%.

Assurant 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; and renters insurance and related products, as well as voluntary manufactured housing insurance, homeowners insurance, and other products.

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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