Gotham Asset Management LLC Buys 28,014 Shares of Assurant, Inc. $AIZ

Key Points

• Gotham Asset Management LLC increased its stake in Assurant, Inc. by 56.4%, now holding 77,657 shares valued at $16.3 million, according to its latest SEC filing.
• Assurant's recent earnings report showed an EPS of $5.56, surpassing expectations and reflecting an 8.0% year-over-year revenue growth to $3.16 billion.
• The company announced a quarterly dividend of $0.80 per share, with a dividend yield of 1.5%, payable on September 29th to stockholders of record.

Gotham Asset Management LLC lifted its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 56.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,657 shares of the financial services provider's stock after buying an additional 28,014 shares during the period. Gotham Asset Management LLC owned about 0.15% of Assurant worth $16,289,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of 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 worth $784,603,000 after purchasing an additional 420,069 shares during the last quarter. Invesco Ltd. increased its position in shares of Assurant by 28.0% during the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock worth $310,285,000 after purchasing an additional 323,573 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Assurant by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider's stock worth $186,533,000 after purchasing an additional 72,046 shares during the last quarter. Northern Trust Corp increased its position 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 worth $176,401,000 after purchasing an additional 9,142 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of Assurant by 5.6% during the 1st quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider's stock worth $121,951,000 after purchasing an additional 30,629 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Insider Activity at Assurant

In other Assurant news, CEO Keith Demmings sold 4,275 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $220.27, for a total transaction of $941,654.25. Following the transaction, the chief executive officer owned 98,372 shares in the company, valued at $21,668,400.44. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dimitry Dirienzo sold 950 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $204.96, for a total value of $194,712.00. Following the transaction, the chief accounting officer owned 3,135 shares in the company, valued at approximately $642,549.60. This trade represents a 23.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,400 shares of company stock worth $2,891,288 in the last ninety days. 0.51% of the stock is owned by company insiders.

Assurant Stock Performance

AIZ traded up $1.74 during trading on Thursday, hitting $211.14. The stock had a trading volume of 78,883 shares, compared to its average volume of 480,263. The company has a 50 day moving average price of $200.66 and a 200-day moving average price of $199.77. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 15.29 and a beta of 0.55. Assurant, Inc. has a one year low of $174.97 and a one year high of $230.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $1.13. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, research analysts predict that Assurant, Inc. will post 16.88 EPS 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 paid a $0.80 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a yield of 1.5%. Assurant's payout ratio is 23.17%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AIZ shares. Stephens started coverage on Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating on the stock. Benchmark assumed coverage on Assurant in a research note on Tuesday, August 12th. They issued a "buy" rating on the stock. BMO Capital Markets assumed coverage on Assurant in a research note on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price objective on the stock. Morgan Stanley restated a "cautious" rating on shares of Assurant in a research note on Monday, August 18th. Finally, Zacks Research upgraded Assurant from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.