Assurant, Inc. $AIZ Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Assurant, Inc. by 1.7%, now holding approximately 1.28% of the company valued at $136 million.
• Assurant recently reported quarterly earnings with a record of $5.56 EPS, surpassing analysts' expectations and showing an 8% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.80 per share, with a dividend yield of 1.5%, set to pay on September 29th.

Dimensional Fund Advisors LP lessened its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 648,605 shares of the financial services provider's stock after selling 11,548 shares during the quarter. Dimensional Fund Advisors LP owned about 1.28% of Assurant worth $136,029,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AIZ. Bank of New York Mellon Corp raised its stake in Assurant by 12.7% during the 1st quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider's stock worth $784,603,000 after acquiring an additional 420,069 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Assurant by 28.0% during the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock worth $310,285,000 after purchasing an additional 323,573 shares during the last quarter. Northern Trust Corp increased its position in shares of Assurant by 23.1% during the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock worth $177,370,000 after purchasing an additional 156,364 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in shares of Assurant by 1.2% in the 4th quarter. Clark Capital Management Group Inc. now owns 607,458 shares of the financial services provider's stock valued at $129,522,000 after purchasing an additional 7,211 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Assurant by 5.6% in the 1st quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider's stock valued at $121,951,000 after purchasing an additional 30,629 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Insider Buying and Selling

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total transaction of $813,267.00. Following the transaction, the executive vice president owned 7,875 shares in the company, valued at approximately $1,642,173.75. The trade was a 33.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction, the chief accounting officer directly owned 3,135 shares of the company's stock, 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. 0.51% of the stock is currently owned by insiders.

Assurant Stock Performance

NYSE:AIZ traded down $2.1280 during midday trading on Monday, reaching $213.7920. The stock had a trading volume of 260,897 shares, compared to its average volume of 487,304. The firm has a fifty day simple moving average of $196.16 and a two-hundred day simple moving average of $198.94. Assurant, Inc. has a 12-month low of $174.97 and a 12-month high of $230.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.79 billion, a P/E ratio of 15.48 and a beta of 0.58.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, topping analysts' consensus estimates of $4.43 by $1.13. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the firm earned $4.77 EPS. Assurant'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, equities analysts expect that Assurant, Inc. will post 16.88 EPS 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. The ex-dividend date is Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. Assurant's dividend payout ratio (DPR) is presently 23.17%.

Analyst Upgrades and Downgrades

Several research firms have commented on AIZ. Keefe, Bruyette & Woods lifted their price target on Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Stephens started coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating on the stock. BMO Capital Markets assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 target price on the stock. Benchmark assumed coverage on shares of Assurant in a research note on Tuesday, August 12th. They set a "buy" rating for the company. Finally, Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Assurant currently has an average 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.