ASR Vermogensbeheer N.V. Invests $2.25 Million in Assurant, Inc. (NYSE:AIZ)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new position in Assurant, Inc., purchasing 10,718 shares valued at approximately $2.25 million in the first quarter.
• Assurant reported earnings of $5.56 per share for the last quarter, surpassing estimates by $1.13, and revenue increased by 8% year-over-year.
• The company's quarterly dividend was recently paid, amounting to $0.80 per share, with an annualized yield of 1.6% and a payout ratio of 23.17%.

ASR Vermogensbeheer N.V. bought a new stake in Assurant, Inc. (NYSE:AIZ - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,718 shares of the financial services provider's stock, valued at approximately $2,248,000.

A number of other institutional investors have also made changes to their positions in AIZ. Franklin Resources Inc. grew its stake in shares of Assurant by 12.5% during the fourth quarter. Franklin Resources Inc. now owns 7,558 shares of the financial services provider's stock worth $1,612,000 after purchasing an additional 841 shares during the period. Envestnet Asset Management Inc. grew its stake in Assurant by 18.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 97,413 shares of the financial services provider's stock valued at $20,770,000 after acquiring an additional 15,218 shares during the period. Cerity Partners LLC grew its stake in Assurant by 8.9% in the fourth quarter. Cerity Partners LLC now owns 8,826 shares of the financial services provider's stock valued at $1,848,000 after acquiring an additional 721 shares during the period. FIL Ltd grew its stake in Assurant by 42.4% in the fourth quarter. FIL Ltd now owns 213,550 shares of the financial services provider's stock valued at $45,533,000 after acquiring an additional 63,550 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Assurant in the fourth quarter valued at about $8,763,000. 92.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AIZ has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research note on Tuesday. Benchmark began coverage on Assurant in a research report on Tuesday. They set a "buy" rating for the company. Stephens began coverage on Assurant in a research report on Tuesday. They set an "overweight" rating for the company. Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, BMO Capital Markets began coverage on Assurant in a research report on Tuesday. They set an "outperform" rating and a $238.00 price objective for the company. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Assurant presently has a consensus rating of "Moderate Buy" and an average price target of $231.57.

Insiders Place Their Bets

In related news, EVP Jay Rosenblum sold 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $201.93, for a total transaction of $201,930.00. Following the sale, the executive vice president owned 11,775 shares of the company's stock, valued at $2,377,725.75. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Dimitry Dirienzo sold 950 shares of the firm's stock in a transaction on 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 disclosure for this sale can be found here. Company insiders own 0.51% of the company's stock.

Assurant Stock Performance

Shares of Assurant stock traded up $3.17 on Wednesday, hitting $212.59. The stock had a trading volume of 166,985 shares, compared to its average volume of 488,824. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $230.55. The business's 50 day moving average is $193.96 and its two-hundred day moving average is $199.15. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 15.39 and a beta of 0.58.

Assurant (NYSE:AIZ - Get Free Report) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 EPS 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 company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the business earned $4.77 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 9th. Assurant's dividend payout ratio (DPR) is currently 23.17%.

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.