Janney Montgomery Scott LLC Raises Holdings in Assurant, Inc. $AIZ

Janney Montgomery Scott LLC grew its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 9.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,511 shares of the financial services provider's stock after purchasing an additional 1,680 shares during the period. Janney Montgomery Scott LLC's holdings in Assurant were worth $3,853,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC grew its position in Assurant by 3.2% in the second quarter. Signaturefd LLC now owns 3,544 shares of the financial services provider's stock worth $700,000 after acquiring an additional 111 shares in the last quarter. Patton Fund Management Inc. bought a new stake in Assurant in the second quarter worth about $228,000. Hartford Investment Management Co. lifted its stake in Assurant by 1.3% in the second quarter. Hartford Investment Management Co. now owns 4,556 shares of the financial services provider's stock worth $900,000 after purchasing an additional 60 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in Assurant by 29.0% in the second quarter. TD Private Client Wealth LLC now owns 543 shares of the financial services provider's stock worth $107,000 after purchasing an additional 122 shares during the last quarter. Finally, Forte Capital LLC ADV lifted its stake in Assurant by 11.3% in the second quarter. Forte Capital LLC ADV now owns 1,803 shares of the financial services provider's stock worth $356,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Assurant Stock Performance

Shares of AIZ stock opened at $216.40 on Wednesday. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 15.67 and a beta of 0.55. The company's 50 day moving average is $210.40 and its 200 day moving average is $200.58. 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 52-week low of $174.97 and a 52-week high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. Assurant had a net margin of 5.83% and a return on equity of 16.47%. Assurant's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. On average, sell-side analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Assurant's dividend payout ratio (DPR) is 23.17%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Stephens assumed coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued an "overweight" rating for the company. Weiss Ratings reissued a "buy (b-)" rating on shares of Assurant in a research note on Saturday, September 27th. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Benchmark started coverage on shares of Assurant in a research report on Tuesday, August 12th. They set a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Assurant has an average rating of "Buy" and an average price target of $235.17.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of Assurant 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 owned 7,875 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Keith Demmings sold 13,725 shares of the company's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the sale, the chief executive officer directly owned 84,647 shares of the company's stock, valued at approximately $18,666,356.44. This represents a 13.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,125 shares of company stock worth $5,917,925 over the last three months. Corporate insiders own 0.51% of the company's stock.

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.

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