Assurant, Inc. (AIZ) Major Shareholder Sells $121,320,000.00 in Stock

Assurant, Inc. (NYSE:AIZ) major shareholder Tpg Advisors Vi-Aiv, Inc. sold 1,200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $101.10, for a total transaction of $121,320,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 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 Tuesday, September 18th, Tpg Advisors Vi-Aiv, Inc. sold 1,000,000 shares of Assurant stock. The shares were sold at an average price of $105.14, for a total transaction of $105,140,000.00.

NYSE:AIZ traded up $0.31 during mid-day trading on Monday, hitting $108.44. 573,600 shares of the company’s stock were exchanged, compared to its average volume of 692,689. 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 fifty-two week low of $84.34 and a fifty-two week high of $111.43. The company has a market cap of $6.75 billion, a PE ratio of 27.25 and a beta of 0.48.

Assurant (NYSE:AIZ) last posted its earnings results on Tuesday, August 7th. The financial services provider reported $2.11 EPS for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company earned $1.63 EPS. Equities research analysts expect that Assurant, Inc. will post 7.73 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 18th. Investors of record on Monday, August 27th were given a dividend of $0.56 per share. The ex-dividend date was Friday, August 24th. This represents a $2.24 annualized dividend and a yield of 2.07%. Assurant’s dividend payout ratio is presently 56.28%.

A number of equities research analysts have recently weighed in on AIZ shares. Keefe, Bruyette & Woods started coverage on shares of Assurant in a research note on Monday, July 16th. They issued an “outperform” rating and a $121.00 price target on the stock. SunTrust Banks raised their price target on shares of Assurant to $129.00 and gave the company an “outperform” rating in a research note on Wednesday, July 11th. They noted that the move was a valuation call. Morgan Stanley started coverage on shares of Assurant in a research note on Tuesday, July 10th. They issued an “overweight” rating and a $125.00 price target on the stock. UBS Group raised their price target on shares of Assurant from $118.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Finally, ValuEngine upgraded shares of Assurant from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $128.75.

Large investors have recently bought and sold shares of the stock. US Bancorp DE boosted its position in Assurant by 81.4% during the 2nd quarter. US Bancorp DE now owns 1,114 shares of the financial services provider’s stock worth $115,000 after buying an additional 500 shares during the period. Qube Research & Technologies Ltd boosted its position in Assurant by 111.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,142 shares of the financial services provider’s stock worth $118,000 after buying an additional 601 shares during the period. Rampart Investment Management Company LLC boosted its position in Assurant by 88.5% during the 1st quarter. Rampart Investment Management Company LLC now owns 1,431 shares of the financial services provider’s stock worth $131,000 after buying an additional 672 shares during the period. Envestnet Asset Management Inc. boosted its position in Assurant by 69.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,526 shares of the financial services provider’s stock worth $157,000 after buying an additional 626 shares during the period. Finally, CIBC World Markets Inc. acquired a new stake in Assurant during the 2nd quarter worth approximately $201,000. Institutional investors and hedge funds own 93.57% of the company’s stock.

About Assurant

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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