Neuberger Berman Group LLC Acquires 224,169 Shares of Assurant, Inc. (NYSE:AIZ)

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Neuberger Berman Group LLC boosted its holdings in Assurant, Inc. (NYSE:AIZ) by 17.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,544,702 shares of the financial services provider’s stock after purchasing an additional 224,169 shares during the period. Neuberger Berman Group LLC owned about 2.59% of Assurant worth $159,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Evoke Wealth LLC grew its position in Assurant by 1,595.7% in the second quarter. Evoke Wealth LLC now owns 390 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 367 shares in the last quarter. Sowell Financial Services LLC grew its position in shares of Assurant by 90.5% in the 1st quarter. Sowell Financial Services LLC now owns 400 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 190 shares during the period. Fifth Third Bancorp grew its position 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 acquiring an additional 146 shares during the period. CSat Investment Advisory L.P. grew its position in shares of Assurant by 82.2% in the 2nd quarter. CSat Investment Advisory L.P. now owns 893 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 403 shares during the period. Finally, Wexford Capital LP bought a new position in shares of Assurant in the 2nd quarter valued at about $104,000. 94.70% of the stock is owned by institutional investors and hedge funds.

Separately, Morgan Stanley lifted their price objective on shares of Assurant from $140.00 to $143.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th.

Shares of AIZ stock traded up $1.10 during midday trading on Wednesday, hitting $118.36. 7,536 shares of the company were exchanged, compared to its average volume of 298,937. The firm has a market capitalization of $6.99 billion, a P/E ratio of 19.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s 50 day moving average price is $119.51 and its two-hundred day moving average price is $108.07. Assurant, Inc. has a 52 week low of $76.27 and a 52 week high of $142.61.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $2.75 EPS for the quarter, topping the consensus estimate of $2.09 by $0.66. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.58 billion. Assurant had a net margin of 3.95% and a return on equity of 10.23%. Assurant’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.34 EPS. Analysts expect that Assurant, Inc. will post 9.53 EPS for the current year.

The business also recently declared 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. This represents a $2.52 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, August 28th. Assurant’s dividend payout ratio (DPR) is presently 29.47%.

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

Further Reading: Understanding dividend yield and dividend payout ratio

Institutional Ownership by Quarter for Assurant (NYSE:AIZ)

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