Assurant, Inc. $AIZ Shares Purchased by Amundi

Key Points

• Amundi increased its stake in Assurant, Inc. by 30.6%, owning a total of 367,161 shares valued at approximately $74.7 million after acquiring more shares in the first quarter.
• Assurant recently announced a quarterly dividend of $0.80, with an annual yield of 1.5%, which will be paid to investors on September 29, 2023.
• The company reported $5.56 EPS for the last quarter, exceeding analysts' expectations, with quarterly revenue up 8.0% year-over-year.

Amundi boosted its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 30.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 367,161 shares of the financial services provider's stock after acquiring an additional 85,962 shares during the quarter. Amundi owned 0.72% of Assurant worth $74,688,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its holdings in Assurant by 68.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 70,840 shares of the financial services provider's stock valued at $14,859,000 after acquiring an additional 28,900 shares in the last quarter. Graham Capital Management L.P. raised its holdings in Assurant by 288.4% in the first quarter. Graham Capital Management L.P. now owns 5,659 shares of the financial services provider's stock valued at $1,187,000 after acquiring an additional 4,202 shares in the last quarter. Quarry LP raised its holdings in Assurant by 183.0% in the first quarter. Quarry LP now owns 1,494 shares of the financial services provider's stock valued at $313,000 after acquiring an additional 966 shares in the last quarter. Vident Advisory LLC acquired a new stake in Assurant in the first quarter valued at approximately $513,000. Finally, Magnetar Financial LLC purchased a new position in Assurant in the first quarter valued at approximately $4,652,000. Institutional investors and hedge funds own 92.65% of the company's stock.

Insider Activity at Assurant

In related news, CEO Keith Demmings sold 4,275 shares of Assurant stock in a transaction on Friday, August 29th. The shares were sold at an average price of $220.27, for a total value of $941,654.25. Following the transaction, the chief executive officer directly owned 98,372 shares in the company, valued at $21,668,400.44. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Dimitry Dirienzo sold 950 shares of Assurant stock in a transaction on Friday, August 8th. The shares were sold at an average price of $204.96, for a total transaction of $194,712.00. Following the completion of the transaction, the chief accounting officer owned 3,135 shares in the company, valued at approximately $642,549.60. This trade represents a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,400 shares of company stock worth $2,891,288 in the last three months. Insiders own 0.51% of the company's stock.

Assurant Stock Performance

Shares of Assurant stock opened at $211.12 on Friday. The firm's fifty day simple moving average is $199.75 and its 200-day simple moving average is $199.55. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 15.29 and a beta of 0.55. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $230.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 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 analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, equities analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, September 2nd. Assurant's dividend payout ratio (DPR) is 23.17%.

Wall Street Analysts Forecast Growth

AIZ has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods increased their price target on shares of Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Stephens initiated coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued an "overweight" rating on the stock. Finally, Morgan Stanley reiterated a "cautious" rating on shares of Assurant in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.

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