Assurant, Inc. $AIZ Shares Purchased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Assurant, Inc. by 68.9%, acquiring an additional 28,900 shares, bringing its total ownership to 70,840 shares valued at approximately $14.86 million.
• Assurant reported a 12 month revenue growth of 8.0% year-over-year, with earnings per share of $5.56, surpassing analysts' expectations of $4.43.
• The company announced a quarterly dividend of $0.80 per share, reflecting an annualized dividend yield of 1.5%, with a payout ratio of 23.17%.

Adage Capital Partners GP L.L.C. lifted its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 68.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,840 shares of the financial services provider's stock after buying an additional 28,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.14% of Assurant worth $14,859,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AIZ. Bank of New York Mellon Corp grew its position 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 valued at $784,603,000 after acquiring an additional 420,069 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Assurant by 28.0% during the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock valued at $310,285,000 after purchasing an additional 323,573 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Assurant by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider's stock worth $186,533,000 after purchasing an additional 72,046 shares during the last quarter. Northern Trust Corp increased its stake 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 lifted its holdings in Assurant by 5.6% during the 1st quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider's stock valued at $121,951,000 after buying an additional 30,629 shares in the last quarter. 92.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Assurant

In other news, CAO Dimitry Dirienzo sold 950 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $204.96, for a total value of $194,712.00. Following the sale, the chief accounting officer directly owned 3,135 shares in the company, valued at approximately $642,549.60. This trade represents a 23.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keith Demmings sold 4,275 shares of Assurant stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $220.27, for a total transaction of $941,654.25. Following the completion of the transaction, the chief executive officer directly owned 98,372 shares in the company, valued at approximately $21,668,400.44. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,400 shares of company stock valued at $2,891,288. 0.51% of the stock is currently owned by insiders.

Assurant Stock Down 0.3%

NYSE:AIZ traded down $0.73 during trading hours on Tuesday, reaching $211.02. The company's stock had a trading volume of 269,649 shares, compared to its average volume of 484,231. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $10.65 billion, a P/E ratio of 15.28 and a beta of 0.55. The stock has a 50 day moving average price of $200.30 and a two-hundred day moving average price of $199.71. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results 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 the consensus estimate of $3.13 billion. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The business's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Equities analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

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

Wall Street Analysts Forecast Growth

AIZ has been the subject of several research reports. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Morgan Stanley reiterated a "cautious" rating on shares of Assurant in a report on Monday, August 18th. Stephens assumed coverage on Assurant in a research note on Tuesday, August 12th. They issued an "overweight" rating on the stock. Benchmark started coverage on Assurant in a research report on Tuesday, August 12th. They set a "buy" rating for the company. Finally, Keefe, Bruyette & Woods increased their price target on Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $233.29.

About Assurant

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.