Candriam S.C.A. Sells 1,456 Shares of Assurant, Inc. $AIZ

Key Points

• Candriam S.C.A. has reduced its stake in Assurant, Inc. by 24.1%, now holding 4,575 shares worth approximately $960,000.
• Assurant recently announced a $0.80 per share quarterly dividend, translating to a 1.5% yield, with the next payout scheduled for September 29th.
• The company reported better-than-expected quarterly earnings of $5.56 EPS, exceeding the consensus estimate by $1.13, alongside revenues of $3.16 billion.

Candriam S.C.A. lowered its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,575 shares of the financial services provider's stock after selling 1,456 shares during the period. Candriam S.C.A.'s holdings in Assurant were worth $960,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC bought a new stake in Assurant during the first quarter worth about $1,836,000. Hsbc Holdings PLC grew its holdings in shares of Assurant by 7.6% during the 1st quarter. Hsbc Holdings PLC now owns 115,602 shares of the financial services provider's stock valued at $24,231,000 after purchasing an additional 8,171 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Assurant by 73.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 279,268 shares of the financial services provider's stock valued at $58,577,000 after purchasing an additional 118,096 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Assurant by 1.1% during the 1st quarter. Northern Trust Corp now owns 841,006 shares of the financial services provider's stock valued at $176,401,000 after purchasing an additional 9,142 shares during the last quarter. Finally, Versor Investments LP bought a new position in shares of Assurant during the 1st quarter valued at $1,834,000. Institutional investors own 92.65% of the company's stock.

Insider Activity at Assurant

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of the transaction, the executive vice president 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 950 shares of the firm'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 transaction of $194,712.00. Following the transaction, the chief accounting officer directly owned 3,135 shares of the company's stock, valued at $642,549.60. This represents a 23.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.51% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. BMO Capital Markets assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 target price on the stock. Keefe, Bruyette & Woods boosted their price objective on Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Benchmark initiated coverage on Assurant in a research report on Tuesday, August 12th. They issued a "buy" rating for the company. Finally, Morgan Stanley reiterated a "cautious" rating on shares of Assurant in a research report on Monday, August 18th. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $233.29.

Assurant Trading Down 1.3%

NYSE AIZ traded down $2.91 during trading on Friday, hitting $215.78. The company had a trading volume of 625,390 shares, compared to its average volume of 469,122. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a one year low of $174.97 and a one year high of $230.55. The company has a market cap of $10.89 billion, a price-to-earnings ratio of 15.62 and a beta of 0.58. The company's fifty day moving average is $198.01 and its 200-day moving average is $199.21.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 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 business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the business earned $4.77 EPS. The company'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. On average, sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Assurant's payout ratio is currently 23.17%.

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.