Assurant, Inc. $AIZ Stock Holdings Increased by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in Assurant, Inc. by 288.4% in the first quarter, now holding 5,659 shares valued at approximately $1.19 million.
• Assurant recently announced a quarterly dividend of $0.80, with an annualized yield of 1.5%, payable on September 29th, 2023.
• Assurant's earnings report indicated a profit of $5.56 EPS, exceeding analyst expectations and reflecting an 8.0% year-over-year revenue increase.

Graham Capital Management L.P. lifted its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 288.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,659 shares of the financial services provider's stock after buying an additional 4,202 shares during the quarter. Graham Capital Management L.P.'s holdings in Assurant were worth $1,187,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew 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 purchasing an additional 420,069 shares in the last quarter. Invesco Ltd. grew its stake in Assurant by 28.0% during the 1st 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 in the last quarter. Millennium Management LLC grew its stake in Assurant by 1,499.1% during the 4th quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider's stock worth $73,375,000 after purchasing an additional 322,608 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Assurant by 20,818.1% during the 1st quarter. GAMMA Investing LLC now owns 308,123 shares of the financial services provider's stock worth $646,290,000 after acquiring an additional 306,650 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Assurant in the 1st quarter valued at about $28,095,000. Hedge funds and other institutional investors own 92.65% of the company's stock.

Assurant Price Performance

NYSE:AIZ traded down $0.33 during trading hours on Tuesday, reaching $211.42. 55,600 shares of the company traded hands, compared to its average volume of 482,950. The firm's 50-day moving average is $200.03 and its 200-day moving average is $199.63. The stock has a market cap of $10.67 billion, a P/E ratio of 15.31 and a beta of 0.55. 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, Inc. has a 1-year low of $174.97 and a 1-year high of $230.55.

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

Assurant Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Assurant's dividend payout ratio is presently 23.17%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AIZ. Keefe, Bruyette & Woods boosted their target price on Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Zacks Research raised Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Benchmark started coverage on Assurant in a report on Tuesday, August 12th. They issued a "buy" rating for the company. Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Stephens started coverage on Assurant in a research note on Tuesday, August 12th. They set an "overweight" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $233.29.

Insider Transactions at Assurant

In related news, CAO Dimitry Dirienzo sold 950 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer directly owned 3,135 shares of the company's stock, valued at $642,549.60. The trade was a 23.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Keith Demmings sold 4,275 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $220.27, for a total value of $941,654.25. Following the completion of the sale, the chief executive officer directly owned 98,372 shares of the company's stock, valued at approximately $21,668,400.44. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,400 shares of company stock valued at $2,891,288 over the last quarter. Company insiders own 0.51% of the company's stock.

Assurant Company 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.