Assurant, Inc. $AIZ Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments Co. Ltd. has increased its holdings in Assurant, Inc. by 58.0%, owning a total of 9,736 shares valued at approximately $1.92 million as of its latest SEC filing.
• Assurant's recent quarterly earnings report showed an EPS of $5.56 exceeding analyst expectations of $4.43, alongside a revenue of $3.16 billion, which was also higher than predicted.
• The company has declared a quarterly dividend of $0.80 per share, resulting in an annualized dividend yield of 1.5% based on a payout ratio of 23.17%.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 58.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,736 shares of the financial services provider's stock after acquiring an additional 3,573 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Assurant were worth $1,923,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in AIZ. Merit Financial Group LLC boosted its holdings in Assurant by 18.0% during the first quarter. Merit Financial Group LLC now owns 1,406 shares of the financial services provider's stock worth $295,000 after buying an additional 214 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Assurant by 32.3% during the first quarter. Park Avenue Securities LLC now owns 8,589 shares of the financial services provider's stock valued at $1,802,000 after purchasing an additional 2,097 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in Assurant by 8.6% during the first quarter. Pallas Capital Advisors LLC now owns 1,350 shares of the financial services provider's stock valued at $283,000 after purchasing an additional 107 shares in the last quarter. Yousif Capital Management LLC lifted its holdings in Assurant by 49.1% during the first quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider's stock valued at $2,137,000 after purchasing an additional 3,356 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Assurant by 672.7% during the first quarter. SG Americas Securities LLC now owns 11,374 shares of the financial services provider's stock valued at $2,386,000 after purchasing an additional 9,902 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on AIZ shares. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. UBS Group increased their target price on shares of Assurant from $250.00 to $255.00 and gave the company a "buy" rating in a research report on Wednesday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Assurant in a research report on Wednesday. Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Finally, Morgan Stanley increased their target price on shares of Assurant from $230.00 to $232.00 and gave the company an "equal weight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Assurant presently has a consensus rating of "Buy" and a consensus target price of $238.00.

Insider Buying and Selling at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of the business's 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 sale, the chief accounting officer directly owned 3,135 shares in the company, valued at approximately $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 accessible through the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was 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 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. In the last three months, insiders have sold 27,125 shares of company stock valued at $5,917,925. 0.51% of the stock is owned by company insiders.

Assurant Trading Up 1.3%

NYSE AIZ opened at $219.20 on Thursday. The firm has a 50 day simple moving average of $211.10 and a 200-day simple moving average of $200.71. 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 one year low of $174.97 and a one year high of $230.55. The firm has a market cap of $11.06 billion, a price-to-earnings ratio of 15.87 and a beta of 0.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.43 by $1.13. The company 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 firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Equities research analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Assurant's payout ratio is currently 23.17%.

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.

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