Assurant, Inc. $AIZ Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Assurant, Inc. by 1.2%, selling 4,630 shares to now own 374,314 shares valued at approximately $78.5 million.
• Assurant reported a Q2 earnings per share (EPS) of $5.56, exceeding analysts' expectations and reflecting a year-over-year revenue increase of 8% to $3.16 billion.
• The company announced a quarterly dividend of $0.80, representing a 1.5% yield and a payout ratio of 23.17% as it continues to attract institutional investors, currently owning 92.65% of its stock.

Wellington Management Group LLP reduced its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,314 shares of the financial services provider's stock after selling 4,630 shares during the period. Wellington Management Group LLP owned about 0.74% of Assurant worth $78,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in Assurant by 12.7% during the first 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 during the period. Invesco Ltd. raised its position in 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 acquiring an additional 323,573 shares during the period. Northern Trust Corp raised its position in Assurant by 1.1% during the first quarter. Northern Trust Corp now owns 841,006 shares of the financial services provider's stock worth $176,401,000 after acquiring an additional 9,142 shares during the period. Clark Capital Management Group Inc. raised its position in Assurant by 1.2% during the fourth quarter. Clark Capital Management Group Inc. now owns 607,458 shares of the financial services provider's stock worth $129,522,000 after acquiring an additional 7,211 shares during the period. Finally, Deutsche Bank AG raised its position in Assurant by 5.6% during the first quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider's stock worth $121,951,000 after acquiring an additional 30,629 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Price Performance

Shares of NYSE AIZ opened at $215.7030 on Friday. The firm has a 50-day simple moving average of $196.16 and a 200-day simple moving average of $199.16. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of 15.62 and a beta of 0.58. 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 52 week low of $174.97 and a 52 week 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 EPS for the quarter, beating 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 business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the prior year, the business earned $4.77 earnings per share. The company's quarterly revenue was up 8.0% compared to the same quarter last year. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. On average, equities analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal 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 issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. Assurant's dividend payout ratio is currently 23.17%.

Analyst Ratings Changes

A number of research firms have weighed in on AIZ. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Morgan Stanley restated a "cautious" rating on shares of Assurant in a research report on Monday. Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Stephens assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating for the company. Finally, BMO Capital Markets assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 target price for the company. One equities 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 company. According to MarketBeat, Assurant has an average rating of "Moderate Buy" and an average price target of $233.29.

Insider Transactions at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of the stock in a transaction dated 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 of the company's stock, valued at $642,549.60. This trade represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of the 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 transaction, the executive vice president directly owned 7,875 shares of the company's stock, valued at approximately $1,642,173.75. This trade represents a 33.12% decrease in their position. The disclosure for this sale can be found here. Corporate 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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