Oppenheimer Asset Management Inc. Reduces Stake in Assurant, Inc. (AIZ)

Oppenheimer Asset Management Inc. trimmed its position in Assurant, Inc. (NYSE:AIZ) by 21.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 7,679 shares of the financial services provider’s stock after selling 2,124 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Assurant were worth $733,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its position in Assurant by 9,105.8% during the 2nd quarter. Janus Henderson Group PLC now owns 635,659 shares of the financial services provider’s stock worth $65,912,000 after purchasing an additional 628,754 shares during the last quarter. Prudential Financial Inc. raised its position in Assurant by 410.8% during the 2nd quarter. Prudential Financial Inc. now owns 408,459 shares of the financial services provider’s stock worth $42,353,000 after purchasing an additional 328,490 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Assurant by 165.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 409,434 shares of the financial services provider’s stock worth $42,454,000 after purchasing an additional 255,472 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Assurant during the 3rd quarter worth $16,747,000. Finally, PGGM Investments raised its position in Assurant by 426.6% during the 3rd quarter. PGGM Investments now owns 186,407 shares of the financial services provider’s stock worth $17,806,000 after purchasing an additional 151,006 shares during the last quarter. Institutional investors own 90.48% of the company’s stock.

Assurant, Inc. (AIZ) opened at $98.31 on Friday. The stock has a market capitalization of $5,262.25, a price-to-earnings ratio of 38.20, a P/E/G ratio of 1.37 and a beta of 0.78. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.26. Assurant, Inc. has a 12-month low of $86.00 and a 12-month high of $106.99.

Assurant (NYSE:AIZ) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported ($1.40) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.79) by $0.39. Assurant had a return on equity of 3.55% and a net margin of 3.67%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company posted $1.00 EPS. The business’s quarterly revenue was down 13.5% on a year-over-year basis. equities research analysts anticipate that Assurant, Inc. will post 3.69 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Stockholders of record on Monday, November 27th will be given a $0.56 dividend. The ex-dividend date is Friday, November 24th. This is a positive change from Assurant’s previous quarterly dividend of $0.53. This represents a $2.24 annualized dividend and a dividend yield of 2.28%. Assurant’s dividend payout ratio (DPR) is 53.59%.

Several research analysts recently issued reports on AIZ shares. SunTrust Banks reaffirmed a “buy” rating and set a $115.00 target price on shares of Assurant in a research report on Thursday, October 12th. BidaskClub lowered Assurant from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd.

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Assurant Profile

Assurant, Inc is a provider of risk management solutions in the housing and lifestyle markets. The Company operates in North America, Latin America, Europe and Asia. The Company’s segments include Global Housing, Global Lifestyle and Global Preneed. Through its Global Housing segment, it provides lender-placed homeowners, manufactured housing and flood insurance; renters insurance and related products (multi-family housing business), and field services, valuation services and other property risk management services (mortgage solutions business).

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Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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