Counterpoint Mutual Funds LLC Acquires New Position in Assurant, Inc. $AIZ

Key Points

• Counterpoint Mutual Funds LLC has acquired a new position in Assurant, Inc. by purchasing 2,025 shares valued at approximately $400,000 in the second quarter.
• A recent shift in analyst ratings has generally favored Assurant, with Zacks Research upgrading it to a "strong-buy" rating and price targets being raised by various firms.
• Assurant reported strong earnings of $5.56 per share in its last quarter, exceeding analyst expectations, and announced a quarterly dividend payment of $0.80 per share, reflecting a 1.5% yield.

Counterpoint Mutual Funds LLC bought a new position in Assurant, Inc. (NYSE:AIZ - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,025 shares of the financial services provider's stock, valued at approximately $400,000.

A number of other institutional investors have also recently made changes to their positions in AIZ. Principal Financial Group Inc. increased its stake in shares of Assurant by 12.0% in the first quarter. Principal Financial Group Inc. now owns 79,289 shares of the financial services provider's stock worth $16,631,000 after buying an additional 8,478 shares during the period. Private Trust Co. NA raised its position in Assurant by 192.2% in the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock worth $31,000 after acquiring an additional 98 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Assurant by 14.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,163 shares of the financial services provider's stock worth $1,271,000 after purchasing an additional 766 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Assurant by 7.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,501 shares of the financial services provider's stock valued at $74,357,000 after acquiring an additional 24,153 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Assurant by 49.1% in the first quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider's stock valued at $2,137,000 after purchasing an additional 3,356 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Wall Street Analysts Forecast Growth

AIZ has been the subject of several recent research reports. Zacks Research raised Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Keefe, Bruyette & Woods upped their price objective on shares of Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Morgan Stanley reiterated a "cautious" rating on shares of Assurant in a research note on Monday, August 18th. Finally, BMO Capital Markets assumed coverage on shares of Assurant in a research note on Tuesday, August 12th. They set an "outperform" rating and a $238.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $234.83.

Assurant Stock Performance

Shares of NYSE AIZ opened at $212.47 on Wednesday. The firm has a market cap of $10.72 billion, a P/E ratio of 15.39 and a beta of 0.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average price of $204.26 and a two-hundred day moving average price of $199.98. 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 issued its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, topping the consensus estimate of $4.43 by $1.13. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the firm posted $4.77 EPS. The business's 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. Research analysts forecast that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The firm also recently disclosed 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Assurant's payout ratio is currently 23.17%.

Insider Buying and Selling

In related news, CEO Keith Demmings sold 4,275 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $220.27, for a total value of $941,654.25. Following the sale, the chief executive officer owned 98,372 shares in the company, valued at approximately $21,668,400.44. This represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $194,712.00. Following the transaction, the chief accounting officer 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. Over the last three months, insiders have sold 13,400 shares of company stock worth $2,891,288. 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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