Hsbc Holdings PLC Purchases 8,171 Shares of Assurant, Inc. $AIZ

Key Points

• Hsbc Holdings PLC increased its stake in Assurant, Inc. by 7.6%, acquiring an additional 8,171 shares during the first quarter, bringing its total ownership to approximately 0.23% of the company, valued at $24.2 million.
• Assurant recently reported a quarterly earnings per share (EPS) of $5.56, exceeding analyst expectations of $4.43, and also announced a quarterly dividend of $0.80 per share.
• Institutional investors now own 92.65% of Assurant's stock, reflecting a trend of increasing institutional interest in the company's shares.

Hsbc Holdings PLC increased its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,602 shares of the financial services provider's stock after buying an additional 8,171 shares during the quarter. Hsbc Holdings PLC owned 0.23% of Assurant worth $24,231,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in AIZ. Raymond James Financial Inc. acquired a new stake in Assurant during the fourth quarter worth about $3,810,000. Mariner LLC grew its position in Assurant by 35.6% during the fourth quarter. Mariner LLC now owns 6,989 shares of the financial services provider's stock worth $1,490,000 after buying an additional 1,836 shares in the last quarter. Jump Financial LLC acquired a new stake in Assurant during the fourth quarter worth about $260,000. MetLife Investment Management LLC grew its position in Assurant by 0.9% during the fourth quarter. MetLife Investment Management LLC now owns 13,586 shares of the financial services provider's stock worth $2,897,000 after buying an additional 116 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Assurant by 165.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,913 shares of the financial services provider's stock worth $1,048,000 after buying an additional 3,060 shares in the last quarter. 92.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Jay Rosenblum sold 3,900 shares of Assurant stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total value of $813,267.00. Following the completion of the transaction, the executive vice president owned 7,875 shares in the company, valued at approximately $1,642,173.75. The trade was a 33.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 950 shares of Assurant 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 completion of the transaction, the chief accounting officer owned 3,135 shares of the company's stock, valued at $642,549.60. This trade 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.

Assurant Price Performance

AIZ traded up $0.25 during midday trading on Thursday, reaching $216.39. 151,232 shares of the company's stock were exchanged, compared to its average volume of 484,186. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 15.66 and a beta of 0.58. 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 one year low of $174.97 and a one year high of $230.55. The business has a 50-day simple moving average of $197.16 and a two-hundred day simple moving average of $199.15.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly 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. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The firm had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter last year, the company earned $4.77 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. 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 Dividend Announcement

The company 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 $0.80 dividend. The ex-dividend date 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 23.17%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stephens assumed coverage on Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating on the stock. Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. BMO Capital Markets began coverage on shares of Assurant in a research note on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price target for the company. Benchmark began coverage on shares of Assurant in a research note on Tuesday, August 12th. They set a "buy" rating for the company. Finally, Morgan Stanley restated a "cautious" rating on shares of Assurant in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Assurant has a consensus rating of "Moderate Buy" and an average target price of $233.29.

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.