American Century Companies Inc. Has $18.30 Million Stock Position in Assurant, Inc. $AIZ

Key Points

• American Century Companies Inc. increased its position in Assurant, Inc. by 3.1%, owning 87,257 shares worth approximately $18.3 million as of its latest SEC filing.
• Assurant reported a net earnings per share (EPS) of $5.56 in its recent quarter, exceeding expectations of $4.43, and setting FY 2025 guidance at 22.390 EPS.
• A quarterly dividend of $0.80 per share will be paid to shareholders on September 29th, representing an annual yield of 1.5%.

American Century Companies Inc. lifted its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,257 shares of the financial services provider's stock after purchasing an additional 2,602 shares during the period. American Century Companies Inc. owned 0.17% of Assurant worth $18,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zions Bancorporation National Association UT bought a new position in shares of Assurant in the 1st quarter worth $26,000. Alpine Bank Wealth Management bought a new position in shares of Assurant in the 1st quarter worth $28,000. Private Trust Co. NA boosted its position in shares of Assurant by 192.2% in the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Assetmark Inc. boosted its position in shares of Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock worth $34,000 after purchasing an additional 122 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Assurant by 47.3% in 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 last quarter. 92.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AIZ has been the topic of several research analyst reports. Morgan Stanley reaffirmed a "cautious" rating on shares of Assurant in a research note on Monday, August 18th. Keefe, Bruyette & Woods raised their price objective on Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Zacks Research raised Assurant from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Benchmark started coverage on Assurant in a research note on Tuesday, August 12th. They set a "buy" rating on the stock. Finally, BMO Capital Markets started coverage on Assurant in a research note on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Assurant currently has an average rating of "Moderate Buy" and an average price target of $233.29.

Assurant Stock Performance

NYSE:AIZ traded down $1.32 during mid-day trading on Friday, hitting $217.38. 186,301 shares of the stock were exchanged, compared to its average volume of 485,258. The stock has a market capitalization of $10.97 billion, a price-to-earnings ratio of 15.74 and a beta of 0.58. The firm's 50-day simple moving average is $197.62 and its 200 day simple moving average is $199.19. 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 fifty-two week low of $174.97 and a fifty-two week high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, topping analysts' consensus estimates of $4.43 by $1.13. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The company's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, equities analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

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

Insider Activity

In other news, CAO Dimitry Dirienzo sold 950 shares of the business's stock in a transaction dated 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. The trade was a 23.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jay Rosenblum sold 3,900 shares of the business's stock in a transaction dated 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 $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. 0.51% of the stock is currently owned by insiders.

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.