1,483 Shares in Assurant, Inc. $AIZ Acquired by MBB Public Markets I LLC

Key Points

• MBB Public Markets I LLC has acquired 1,483 shares in Assurant, Inc., bringing its total investment to approximately $311,000 in the first quarter.
• Several institutional investors have increased their stakes in Assurant, which now has 92.65% of its stock owned by such entities.
• Assurant reported a Q2 EPS of $5.56, exceeding analyst expectations, with a year-over-year revenue increase of 8.0% and recently declared a quarterly dividend of $0.80 per share.

MBB Public Markets I LLC bought a new position in Assurant, Inc. (NYSE:AIZ - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,483 shares of the financial services provider's stock, valued at approximately $311,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Assurant by 12.7% in the 1st quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider's stock worth $784,603,000 after purchasing an additional 420,069 shares during the last quarter. Invesco Ltd. lifted its holdings in Assurant by 28.0% in the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock worth $310,285,000 after purchasing an additional 323,573 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Assurant by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider's stock valued at $186,533,000 after buying an additional 72,046 shares during the last quarter. Northern Trust Corp increased its position in Assurant by 1.1% in the 1st quarter. Northern Trust Corp now owns 841,006 shares of the financial services provider's stock worth $176,401,000 after buying an additional 9,142 shares during the period. Finally, Deutsche Bank AG increased its position in Assurant by 5.6% in the 1st quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider's stock worth $121,951,000 after buying an additional 30,629 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Keith Demmings sold 4,275 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $220.27, for a total value of $941,654.25. Following the sale, the chief executive officer owned 98,372 shares of the company's stock, valued at $21,668,400.44. The trade was a 4.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jay Rosenblum sold 3,900 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total value of $813,267.00. Following the completion of the sale, the executive vice president owned 7,875 shares in the company, valued at $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,400 shares of company stock worth $2,891,288. Company insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods upped their price target on Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Zacks Research upgraded Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. BMO Capital Markets assumed coverage on Assurant in a report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price target for the company. Finally, Benchmark assumed coverage on Assurant in a report on Tuesday, August 12th. They set a "buy" rating for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $233.29.

Assurant Stock Performance

AIZ opened at $209.27 on Thursday. The stock has a market cap of $10.56 billion, a PE ratio of 15.15 and a beta of 0.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $230.55. The stock's 50 day simple moving average is $200.66 and its 200-day simple moving average is $199.77.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.43 by $1.13. The business had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.13 billion. Assurant had a return on equity of 16.47% and a net margin of 5.83%.Assurant's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Sell-side analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. Assurant's payout ratio is currently 23.17%.

Assurant Profile

Assurant, Inc, together with its subsidiaries, provides business services that supports, protects, and connects consumer purchases in North America, Latin America, Europe, and the Asia Pacific. The company operates through two segments: Global Lifestyle and Global Housing. The Global Lifestyle segment offers mobile device solutions, and extended service contracts and related services for consumer electronics and appliances, and credit and other insurance products; and vehicle protection, commercial equipment, and other related services.

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