Assurant, Inc. $AIZ Stock Holdings Increased 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. increased its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 68.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,840 shares of the financial services provider's stock after purchasing an additional 28,900 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.14% of Assurant worth $14,859,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in Assurant in the 1st quarter valued at approximately $26,000. Alpine Bank Wealth Management purchased a new position in Assurant in the 1st quarter valued at about $28,000. Private Trust Co. NA grew its holdings in shares of Assurant by 192.2% during the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock worth $31,000 after buying an additional 98 shares in the last quarter. Assetmark Inc. raised its position in shares of Assurant by 312.8% in the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock valued at $34,000 after buying an additional 122 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Assurant by 47.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider's stock worth $40,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Insider Buying and Selling at Assurant

In related news, EVP Jay Rosenblum sold 3,900 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of the sale, the executive vice president directly owned 7,875 shares in the company, valued at approximately $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 owned 98,372 shares in the company, valued at approximately $21,668,400.44. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,400 shares of company stock valued at $2,891,288. 0.51% of the stock is owned by insiders.

Assurant Stock Performance

Shares of NYSE:AIZ traded up $3.96 on Thursday, hitting $213.36. The company's stock had a trading volume of 256,226 shares, compared to its average volume of 395,649. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 15.45 and a beta of 0.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $230.55. The stock's 50-day moving average is $201.06 and its two-hundred day moving average is $199.85.

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

Assurant Dividend Announcement

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 issued a $0.80 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Assurant's dividend payout ratio is 23.17%.

Analysts Set New Price Targets

Several research firms recently issued reports on AIZ. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Zacks Research raised Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. BMO Capital Markets assumed coverage on Assurant in a report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 target price on the stock. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Stephens began coverage on Assurant in a report on Tuesday, August 12th. They issued an "overweight" rating on the stock. One equities 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 company. According to data from MarketBeat, Assurant currently has an average rating of "Moderate Buy" and an average target price of $233.29.

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.