Assurant, Inc. (AIZ) Holdings Trimmed by First Manhattan Co.
First Manhattan Co. lessened its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,175 shares of the financial services provider’s stock after selling 840 shares during the quarter. First Manhattan Co. owned approximately 0.12% of Assurant worth $5,938,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its position in Assurant by 6.2% during the second quarter. State of Alaska Department of Revenue now owns 1,950 shares of the financial services provider’s stock worth $202,000 after buying an additional 114 shares during the last quarter. Atria Investments LLC acquired a new position in Assurant during the second quarter worth approximately $214,000. Thrivent Financial For Lutherans acquired a new position in Assurant during the second quarter worth approximately $216,000. Achmea Investment Management B.V. acquired a new position in Assurant during the second quarter worth approximately $244,000. Finally, Edgestream Partners L.P. acquired a new position in Assurant during the second quarter worth approximately $248,000. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on AIZ shares. SunTrust Banks, Inc. reissued a “buy” rating and set a $115.00 price target on shares of Assurant in a research report on Thursday, October 12th. BidaskClub downgraded Assurant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th.
Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $1.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.05. Assurant had a net margin of 6.53% and a return on equity of 6.70%. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the firm earned $1.42 EPS. The company’s quarterly revenue was down 11.0% compared to the same quarter last year.
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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