Assurant, Inc. $AIZ Shares Bought by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Assurant, Inc. by 73.3%, bringing its total ownership to 279,268 shares valued at approximately $58.58 million.
• Assurant's stock received favorable ratings from multiple research firms, with an average target price of $233.29 and a consensus rating of "Moderate Buy."
• The company announced a quarterly dividend of $0.80 per share, with a dividend yield of 1.5%, to be paid on September 29th.

Fuller & Thaler Asset Management Inc. increased its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 73.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 279,268 shares of the financial services provider's stock after purchasing an additional 118,096 shares during the period. Fuller & Thaler Asset Management Inc. owned 0.55% of Assurant worth $58,577,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position 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 valued at $784,603,000 after acquiring an additional 420,069 shares in the last quarter. Invesco Ltd. raised its position in shares of Assurant by 28.0% in the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock worth $310,285,000 after acquiring an additional 323,573 shares in the last quarter. Millennium Management LLC lifted its stake in shares of 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 during the last quarter. GAMMA Investing LLC boosted its position in Assurant by 20,818.1% during the first quarter. GAMMA Investing LLC now owns 308,123 shares of the financial services provider's stock valued at $646,290,000 after purchasing an additional 306,650 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Assurant by 23.1% in the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock valued at $177,370,000 after purchasing an additional 156,364 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley reissued a "cautious" rating on shares of Assurant in a research report on Monday, August 18th. Benchmark assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They set a "buy" rating for the company. Zacks Research raised shares of Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Stephens assumed coverage on Assurant in a research report on Tuesday, August 12th. They issued an "overweight" rating for the company. One investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.29.

Insiders Place Their Bets

In related news, EVP Jay Rosenblum sold 3,900 shares of the business's stock in a transaction 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 directly owned 7,875 shares in the company, valued at $1,642,173.75. The trade was a 33.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Dimitry Dirienzo sold 950 shares of the 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 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 disclosure for this sale can be found here. Insiders own 0.51% of the company's stock.

Assurant Stock Performance

Shares of NYSE:AIZ traded up $0.9030 during trading on Friday, hitting $215.7030. The stock had a trading volume of 393,003 shares, compared to its average volume of 454,429. 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 market capitalization of $10.88 billion, a price-to-earnings ratio of 15.62 and a beta of 0.58. The stock has a 50-day simple moving average of $196.16 and a two-hundred day simple moving average of $199.16.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly 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 net margin of 5.83% and a return on equity of 16.47%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the company earned $4.77 EPS. Assurant's quarterly revenue 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, equities research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

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

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.