Brandywine Global Investment Management LLC Boosts Stock Holdings in Assurant, Inc. $AIZ

Key Points

• Brandywine Global Investment Management LLC increased its stake in Assurant, Inc. by 15.4% during the first quarter, bringing its total holdings to $6.46 million.
• In recent analyst coverage, nine analysts have rated Assurant as a buy, with a consensus price target of $231.57.
• Assurant announced a quarterly dividend of $0.80 per share, reflecting an annual yield of 1.5%, with the ex-dividend date set for September 2nd.

Brandywine Global Investment Management LLC lifted its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,816 shares of the financial services provider's stock after purchasing an additional 4,114 shares during the period. Brandywine Global Investment Management LLC owned 0.06% of Assurant worth $6,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AIZ. Raymond James Financial Inc. acquired a new position in shares of Assurant during the 4th quarter worth approximately $3,810,000. Mariner LLC boosted its holdings in shares of Assurant by 35.6% during the 4th quarter. Mariner LLC now owns 6,989 shares of the financial services provider's stock worth $1,490,000 after purchasing an additional 1,836 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Assurant during the 4th quarter worth approximately $260,000. Canada Pension Plan Investment Board boosted its holdings in shares of Assurant by 191.2% during the 4th quarter. Canada Pension Plan Investment Board now owns 34,878 shares of the financial services provider's stock worth $7,437,000 after purchasing an additional 22,900 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Assurant by 273.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,137 shares of the financial services provider's stock worth $882,000 after purchasing an additional 3,028 shares during the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

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 value of $813,267.00. Following the sale, the executive vice president owned 7,875 shares of the company's stock, valued at $1,642,173.75. The trade was a 33.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Dimitry Dirienzo sold 950 shares of the business's stock in a transaction that occurred on Friday, August 8th. The shares were 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 in the company, valued at approximately $642,549.60. The trade was a 23.26% decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.

Assurant Trading Up 0.4%

NYSE AIZ traded up $0.9030 on Friday, reaching $215.7030. The stock had a trading volume of 393,003 shares, compared to its average volume of 454,429. The firm 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 12-month low of $174.97 and a 12-month high of $230.55. The stock has a fifty day moving average price of $196.16 and a two-hundred day moving average price of $199.05.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.43 by $1.13. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, sell-side analysts forecast that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders 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 dividend on an annualized basis and a yield of 1.5%. Assurant's payout ratio is presently 23.17%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley reaffirmed a "cautious" rating on shares of Assurant in a research report on Monday, August 18th. BMO Capital Markets assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price target on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Zacks Research raised shares of Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Stephens assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating on the stock. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $233.29.

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.