Assurant, Inc. $AIZ Shares Sold by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. reduced its holdings in Assurant, Inc. by 33.6%, selling 3,599 shares and now owning 7,119 shares valued at approximately $1.4 million.
• Assurant reported earnings of $5.56 per share for the last quarter, surpassing analyst estimates of $4.43, and achieved revenue growth of 8.0% year-over-year.
• The company declared a quarterly dividend of $0.80, which corresponds to an annualized yield of 1.5% and a payout ratio of 23.17%.

ASR Vermogensbeheer N.V. trimmed its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 33.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,119 shares of the financial services provider's stock after selling 3,599 shares during the quarter. ASR Vermogensbeheer N.V.'s holdings in Assurant were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of AIZ. Wealth Enhancement Advisory Services LLC lifted its holdings in Assurant by 35.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider's stock valued at $1,287,000 after acquiring an additional 1,584 shares during the last quarter. Merit Financial Group LLC lifted its holdings in Assurant by 18.0% in the 1st quarter. Merit Financial Group LLC now owns 1,406 shares of the financial services provider's stock valued at $295,000 after acquiring an additional 214 shares during the last quarter. Vest Financial LLC acquired a new stake in Assurant in the 1st quarter valued at about $3,446,000. Park Avenue Securities LLC lifted its holdings in Assurant by 32.3% in the 1st quarter. Park Avenue Securities LLC now owns 8,589 shares of the financial services provider's stock valued at $1,802,000 after acquiring an additional 2,097 shares during the last quarter. Finally, Pallas Capital Advisors LLC lifted its holdings in Assurant by 8.6% in the 1st quarter. Pallas Capital Advisors LLC now owns 1,350 shares of the financial services provider's stock valued at $283,000 after acquiring an additional 107 shares during the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AIZ. Morgan Stanley reissued a "cautious" rating on shares of Assurant in a report on Monday, August 18th. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. BMO Capital Markets assumed coverage on Assurant in a report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price objective on the stock. Benchmark assumed coverage on Assurant in a report on Tuesday, August 12th. They set a "buy" rating on the stock. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Assurant in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $234.83.

Assurant Price Performance

NYSE AIZ opened at $220.06 on Friday. The stock's 50-day moving average price is $209.04 and its two-hundred day moving average price is $200.45. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The company has a market cap of $11.10 billion, a PE ratio of 15.93 and a beta of 0.55. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, beating analysts' consensus estimates 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 company earned $4.77 EPS. The firm's quarterly revenue was up 8.0% on a year-over-year basis. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. On average, analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Keith Demmings sold 4,275 shares of the 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 transaction, the chief executive officer owned 98,372 shares in the company, valued at approximately $21,668,400.44. This represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 950 shares of the 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 completion of the transaction, the chief accounting officer owned 3,135 shares in the company, valued at $642,549.60. This represents a 23.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,400 shares of company stock worth $2,891,288. Insiders own 0.51% of the company's stock.

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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