4,727,930 Shares in Assurant, Inc. $AIZ Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 4.73 million Assurant shares worth approximately $1.27 billion, gaining a 9.54% stake. Institutional investors collectively own 92.65% of AIZ.
• Analysts remain broadly bullish, with a consensus “Buy” rating and a $316.57 price target; Truist, Piper Sandler and Morgan Stanley recently raised their targets.
• Assurant exceeded quarterly earnings expectations, reporting $6.41 EPS versus the $5.17 consensus and 9.4% year-over-year revenue growth. The company also declared a quarterly dividend of $0.88 per share.

Bank of New York Mellon Corp bought a new position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,727,930 shares of the financial services provider's stock, valued at approximately $1,269,591,000. Bank of New York Mellon Corp owned 9.54% of Assurant as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp raised its holdings in shares of Assurant by 606.7% during the first quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider's stock valued at $222,000 after acquiring an additional 910 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Assurant by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider's stock valued at $60,987,000 after purchasing an additional 47,548 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Assurant in the first quarter valued at $203,000. Focus Partners Wealth boosted its position in shares of Assurant by 66.6% in the first quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider's stock worth $556,000 after buying an additional 1,059 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock worth $38,000 after buying an additional 67 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Nair Biju sold 3,931 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $302.46, for a total value of $1,188,970.26. Following the completion of the sale, the executive vice president directly owned 24,247 shares in the company, valued at approximately $7,333,747.62. This represents a 13.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 2,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total transaction of $511,360.00. Following the transaction, the chief accounting officer directly owned 2,741 shares in the company, valued at $700,818.88. The trade was a 42.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 12,931 shares of company stock worth $3,539,300. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AIZ shares. Morgan Stanley upped their price target on Assurant from $300.00 to $320.00 and gave the company an "overweight" rating in a research report on Wednesday. Royal Bank Of Canada set a $310.00 price objective on Assurant in a research report on Wednesday, June 17th. Wall Street Zen cut Assurant from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. Piper Sandler upped their target price on Assurant from $290.00 to $329.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Finally, Truist Financial increased their price target on shares of Assurant from $310.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Assurant currently has a consensus rating of "Buy" and a consensus price target of $316.57.

Assurant Trading Up 1.3%

Shares of NYSE AIZ opened at $282.04 on Friday. The stock has a market cap of $13.91 billion, a price-to-earnings ratio of 13.47 and a beta of 0.55. The business has a 50 day simple moving average of $275.87 and a 200 day simple moving average of $247.46. Assurant, Inc. has a 52 week low of $205.01 and a 52 week high of $303.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.38 and a current ratio of 0.38.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $6.41 EPS for the quarter, topping analysts' consensus estimates of $5.17 by $1.24. The firm had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.43 billion. Assurant had a return on equity of 20.40% and a net margin of 7.90%.The firm's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.56 earnings per share. On average, research analysts predict that Assurant, Inc. will post 21.74 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 28th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Monday, August 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. Assurant's dividend payout ratio is 16.81%.

More Assurant News

Here are the key news stories impacting Assurant this week:

• Positive Sentiment: Zacks upgraded Assurant (AIZ) to Rank #2, or “Buy,” citing improving earnings prospects. The upgrade may attract additional buying interest and provide near-term support for the stock. Assurant upgraded to Buy
• Positive Sentiment: Zacks Research raised its FY2026 EPS forecast to $21.70 from $20.92, FY2027 EPS to $23.00 from $22.46, and FY2028 EPS to $24.74 from $24.44. It also increased estimates for select future quarters, signaling better-than-previously-expected earnings momentum.
• Neutral Sentiment: A Zacks value-investing analysis highlights the firm’s valuation, growth, momentum and earnings-estimate trends, but does not provide a new price target or a specific catalyst beyond the broader Zacks Rank methodology. Should value investors buy Assurant stock
• Negative Sentiment: Some quarterly forecasts were reduced, including Q3 2026 EPS to $4.36 from $4.39, Q4 2026 EPS to $4.98 from $5.43, and Q4 2027 EPS to $5.65 from $5.76. These cuts could temper enthusiasm, although they are offset by the higher full-year and longer-term estimates.

Assurant Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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