Glen Harbor Capital Management LLC lowered its stake in shares of Assurant (NYSE:AIZ) by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,552 shares of the financial services provider’s stock after selling 14,448 shares during the quarter. Glen Harbor Capital Management LLC owned 0.11% of Assurant worth $5,078,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Cerebellum GP LLC bought a new stake in Assurant during the fourth quarter worth $128,000. Ifrah Financial Services Inc. purchased a new position in Assurant in the fourth quarter worth $204,000. Koch Industries Inc. purchased a new position in Assurant in the fourth quarter worth $206,000. Campbell & CO Investment Adviser LLC purchased a new position in Assurant in the first quarter worth $201,000. Finally, Zeke Capital Advisors LLC purchased a new position in Assurant in the first quarter worth $238,000. Institutional investors and hedge funds own 92.98% of the company’s stock.
Assurant opened at $95.35 on Thursday, MarketBeat reports. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.62 and a current ratio of 0.62. Assurant has a 1-year low of $84.34 and a 1-year high of $106.99. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 0.66 and a beta of 0.55.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 19th. Shareholders of record on Tuesday, May 29th will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, May 25th. This represents a $2.24 annualized dividend and a yield of 2.35%. Assurant’s dividend payout ratio is currently 56.28%.
Several research firms have weighed in on AIZ. ValuEngine raised Assurant from a “sell” rating to a “hold” rating in a research report on Friday, May 18th. SunTrust Banks cut their price objective on Assurant and set a “buy” rating on the stock in a research report on Thursday, April 12th. Finally, UBS began coverage on Assurant in a research report on Friday, March 2nd. They issued a “buy” rating and a $127.00 price objective on the stock.
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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