Stoneridge Investment Partners LLC Takes Position in Assurant, Inc. $AIZ

Key Points

• Stoneridge Investment Partners LLC acquired 8,751 shares of Assurant, Inc. (NYSE:AIZ) valued at approximately $1,836,000, making it the 22nd largest holding in their portfolio.
• Assurant reported earnings per share (EPS) of $5.56 for the latest quarter, exceeding expectations and showcasing an 8.0% revenue growth year-over-year.
• The company announced a quarterly dividend of $0.80 per share, resulting in an annualized yield of 1.5%, with the payment date set for September 29th.

Stoneridge Investment Partners LLC bought a new stake in Assurant, Inc. (NYSE:AIZ - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,751 shares of the financial services provider's stock, valued at approximately $1,836,000. Assurant makes up approximately 1.6% of Stoneridge Investment Partners LLC's holdings, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Assurant by 47.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider's stock valued at $40,000 after buying an additional 61 shares in the last quarter. LRI Investments LLC increased its stake in shares of Assurant by 14.0% in the fourth quarter. LRI Investments LLC now owns 553 shares of the financial services provider's stock valued at $118,000 after buying an additional 68 shares in the last quarter. KBC Group NV increased its stake in shares of Assurant by 1.6% in the first quarter. KBC Group NV now owns 4,745 shares of the financial services provider's stock valued at $995,000 after buying an additional 73 shares in the last quarter. Forte Capital LLC ADV increased its stake in shares of Assurant by 5.2% in the first quarter. Forte Capital LLC ADV now owns 1,620 shares of the financial services provider's stock valued at $340,000 after buying an additional 80 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Assurant by 0.9% in the first quarter. Amalgamated Bank now owns 9,918 shares of the financial services provider's stock valued at $2,080,000 after buying an additional 87 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Stock Up 0.4%

Shares of NYSE:AIZ traded up $0.9030 during trading on Friday, hitting $215.7030. 393,003 shares of the company's stock traded hands, compared to its average volume of 454,429. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $230.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 15.62 and a beta of 0.58. The company has a 50-day moving average price of $196.16 and a 200-day moving average price of $199.05.

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 for the quarter, beating the consensus estimate of $4.43 by $1.13. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The business had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter in the previous year, the business posted $4.77 EPS. Assurant's revenue for the quarter was up 8.0% on a year-over-year basis. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, research analysts forecast that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

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

Insiders Place Their Bets

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $204.96, for a total value of $194,712.00. Following the transaction, the chief accounting officer directly owned 3,135 shares of the company's stock, valued at $642,549.60. This represents a 23.26% decrease in their position. The sale was disclosed in a filing with the SEC, 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 transaction, the executive vice president directly owned 7,875 shares in the company, valued at approximately $1,642,173.75. This represents a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

Assurant Company 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.