Canada Pension Plan Investment Board Sells 11,932 Shares of Assurant, Inc. $AIZ

Key Points

• Canada Pension Plan Investment Board reduced its holdings in Assurant, Inc. by 34.2% in Q1, owning 22,946 shares worth approximately $4.81 million after selling 11,932 shares.
• Assurant's quarterly earnings report showed earnings per share of $5.56, exceeding estimates by $1.13, with a revenue of $3.16 billion, marking an 8% year-over-year increase.
• The company recently declared a $0.80 quarterly dividend, representing a 1.5% yield, with a payout ratio of 23.17% and set its FY 2025 EPS guidance at $22.39.

Canada Pension Plan Investment Board reduced its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 34.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,946 shares of the financial services provider's stock after selling 11,932 shares during the period. Canada Pension Plan Investment Board's holdings in Assurant were worth $4,813,000 at the end of the most recent quarter.

Other hedge funds have also recently 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 about $26,000. Alpine Bank Wealth Management bought a new position in shares of Assurant in the 1st quarter worth about $28,000. Private Trust Co. NA raised 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 acquiring an additional 98 shares in the last quarter. Assetmark Inc. raised 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 acquiring an additional 122 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised 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 acquiring an additional 61 shares in the last quarter. 92.65% of the stock is owned by institutional investors.

Assurant Stock Down 0.0%

AIZ stock traded down $0.01 during mid-day trading on Tuesday, reaching $211.75. 43,758 shares of the company traded hands, compared to its average volume of 482,887. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 15.37 and a beta of 0.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a fifty-two week low of $174.97 and a fifty-two week high of $230.55. The firm's 50 day moving average price is $200.03 and its 200 day moving average price is $199.63.

Assurant (NYSE:AIZ - Get Free Report) last released 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 during 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 company's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, equities research analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be paid 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 is Tuesday, September 2nd. Assurant's payout ratio is presently 23.17%.

Analyst Ratings Changes

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

Insider Transactions at Assurant

In other news, CAO Dimitry Dirienzo sold 950 shares of the business's stock in a transaction that occurred 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 owned 3,135 shares in the company, valued at $642,549.60. The trade was a 23.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Keith Demmings sold 4,275 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $220.27, for a total value of $941,654.25. Following the completion of the transaction, the chief executive officer owned 98,372 shares in the company, valued at $21,668,400.44. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,400 shares of company stock worth $2,891,288 in the last 90 days. Insiders own 0.51% of the company's stock.

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.