Assurant, Inc. $AIZ Shares Sold by Credit Agricole S A

Key Points

• Credit Agricole S A sold 12,461 shares of Assurant, Inc., reducing its stake by 19.3% during the first quarter, now holding approximately 0.10% of the company worth $10.96 million.
• Assurant, Inc. reported earnings of $5.56 EPS for the last quarter, exceeding the consensus estimate by $1.13, with an annual revenue growth of 8.0%.
• The company declared a quarterly dividend of $0.80, which represents a 1.5% dividend yield, with the ex-dividend date scheduled for September 2nd.

Credit Agricole S A reduced its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 19.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,250 shares of the financial services provider's stock after selling 12,461 shares during the period. Credit Agricole S A owned about 0.10% of Assurant worth $10,959,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AIZ. Raymond James Financial Inc. purchased a new stake in shares of Assurant in the 4th quarter valued at $3,810,000. Mariner LLC boosted its holdings in shares of Assurant by 35.6% in the 4th quarter. Mariner LLC now owns 6,989 shares of the financial services provider's stock valued at $1,490,000 after acquiring an additional 1,836 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of Assurant in the 4th quarter valued at $260,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Assurant by 273.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,137 shares of the financial services provider's stock valued at $882,000 after acquiring an additional 3,028 shares during the last quarter. Finally, Norinchukin Bank The boosted its holdings in shares of Assurant by 9.4% in the 4th quarter. Norinchukin Bank The now owns 2,365 shares of the financial services provider's stock valued at $504,000 after acquiring an additional 203 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on AIZ. Benchmark began coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued a "buy" rating for the company. Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research note 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 began coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Assurant currently has an average rating of "Moderate Buy" and a consensus target price of $233.29.

Assurant Price Performance

Shares of AIZ stock traded down $1.6350 on Monday, reaching $214.2850. 143,648 shares of the company were exchanged, compared to its average volume of 486,478. The company has a market cap of $10.81 billion, a price-to-earnings ratio of 15.51 and a beta of 0.58. The business has a 50-day moving average price of $196.16 and a 200 day moving average price of $198.94. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current 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 earnings results on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, topping analysts' consensus estimates of $4.43 by $1.13. The business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.13 billion. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The company's quarterly revenue was up 8.0% on a year-over-year basis. 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. Equities research analysts forecast 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 paid a dividend of $0.80 per share. 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 payout ratio is currently 23.17%.

Insider Transactions at Assurant

In other 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 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 $642,549.60. This represents 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 at this link. Also, EVP Jay Rosenblum sold 3,900 shares of the stock in a transaction dated 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 sale, the executive vice president owned 7,875 shares of the company's stock, valued at $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is owned by insiders.

Assurant 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.