Assurant, Inc. $AIZ Position Lifted by Jane Street Group LLC

Key Points

• Jane Street Group LLC increased its position in Assurant, Inc. by 80.9% during the first quarter, owning 103,211 shares worth approximately $21.65 million.
• Assurant reported a strong earnings performance with an EPS of $5.56 for the last quarter, exceeding analysts' estimates of $4.43.
• The company announced a quarterly dividend of $0.80, resulting in an annualized yield of 1.5%, payable on September 29th.

Jane Street Group LLC increased its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 80.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,211 shares of the financial services provider's stock after buying an additional 46,156 shares during the period. Jane Street Group LLC owned about 0.20% of Assurant worth $21,649,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AIZ. Bank of New York Mellon Corp raised its position in shares of Assurant by 12.7% in the first 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 buying an additional 420,069 shares during the last quarter. Invesco Ltd. raised its position in shares of Assurant by 28.0% in the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock valued at $310,285,000 after buying an additional 323,573 shares during the last quarter. Millennium Management LLC raised its position in shares of Assurant by 1,499.1% in the fourth quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider's stock valued at $73,375,000 after buying an additional 322,608 shares during the last quarter. GAMMA Investing LLC increased 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 worth $646,290,000 after purchasing an additional 306,650 shares during the last quarter. Finally, Northern Trust Corp increased its position in Assurant by 23.1% during the fourth quarter. Northern Trust Corp now owns 831,864 shares of the financial services provider's stock worth $177,370,000 after purchasing an additional 156,364 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Wall Street Analyst Weigh In

AIZ has been the subject of several research analyst reports. Stephens initiated coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating for the company. Keefe, Bruyette & Woods upped their price target on shares of Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. BMO Capital Markets initiated coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price target for the company. Zacks Research raised shares of Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Finally, Benchmark initiated coverage on shares of Assurant in a research report on Tuesday, August 12th. They set a "buy" rating for the company. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $233.29.

Assurant Trading Down 0.6%

Shares of Assurant stock traded down $1.35 during trading hours on Tuesday, hitting $213.47. The company's stock had a trading volume of 176,773 shares, compared to its average volume of 486,113. Assurant, Inc. has a 1-year low of $174.97 and a 1-year high of $230.55. The business has a fifty day moving average of $198.34 and a 200 day moving average of $199.18. The company has a market capitalization of $10.77 billion, a PE ratio of 15.44 and a beta of 0.55. 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 (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the business earned $4.77 earnings per share. The business's quarterly 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. As a group, equities analysts forecast that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

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 annualized dividend and a dividend yield of 1.5%. Assurant's dividend payout ratio is 23.17%.

Insider Buying and Selling at Assurant

In other news, EVP Jay Rosenblum sold 3,900 shares of the company's stock in a transaction 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 directly owned 7,875 shares in the company, valued at approximately $1,642,173.75. This represents a 33.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dimitry Dirienzo sold 950 shares of the company's stock in a transaction 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 ownership of the stock. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by corporate insiders.

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.