Assurant, Inc. (NYSE:AIZ) major shareholder Tpg Advisors Vi-Aiv, Inc. sold 1,000,000 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $105.14, for a total transaction of $105,140,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Tpg Advisors Vi-Aiv, Inc. also recently made the following trade(s):
- On Wednesday, September 12th, Tpg Advisors Vi-Aiv, Inc. sold 1,200,000 shares of Assurant stock. The stock was sold at an average price of $101.10, for a total transaction of $121,320,000.00.
AIZ traded down $0.78 on Friday, hitting $102.37. The company had a trading volume of 495,577 shares, compared to its average volume of 690,403. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. Assurant, Inc. has a 52-week low of $84.34 and a 52-week high of $111.43. The firm has a market capitalization of $6.75 billion, a PE ratio of 25.72 and a beta of 0.48.
Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 7th. The financial services provider reported $2.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.35. Assurant had a net margin of 6.37% and a return on equity of 5.62%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same period last year, the business posted $1.63 earnings per share. Analysts expect that Assurant, Inc. will post 7.73 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in AIZ. US Bancorp DE increased its stake in shares of Assurant by 81.4% during the second quarter. US Bancorp DE now owns 1,114 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 500 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Assurant by 111.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,142 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 601 shares in the last quarter. Rampart Investment Management Company LLC increased its stake in shares of Assurant by 88.5% during the first quarter. Rampart Investment Management Company LLC now owns 1,431 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 672 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Assurant by 69.6% during the second quarter. Envestnet Asset Management Inc. now owns 1,526 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 626 shares in the last quarter. Finally, Cerebellum GP LLC bought a new position in shares of Assurant during the third quarter valued at approximately $200,000. 93.57% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $125.00 target price on shares of Assurant in a report on Wednesday, August 8th. UBS Group increased their target price on shares of Assurant from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Morgan Stanley initiated coverage on shares of Assurant in a report on Tuesday, July 10th. They set an “overweight” rating and a $125.00 target price for the company. SunTrust Banks raised their price objective on shares of Assurant to $129.00 and gave the stock an “outperform” rating in a report on Wednesday, July 11th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Assurant from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $128.75.
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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