Lbp Am Sa Purchases New Position in Assurant, Inc. $AIZ

Key Points

• Lbp Am Sa has acquired a new position in Assurant, Inc., purchasing 40,241 shares valued at approximately $7,947,000.
• Assurant reported earnings of $5.56 per share for the last quarter, exceeding analysts' estimates by $1.13, and had revenues of $3.16 billion during the same period.
• The company declared a quarterly dividend of $0.80 per share, reflecting an annualized yield of 1.5% with a payout ratio of 23.17%.

Lbp Am Sa acquired a new position in Assurant, Inc. (NYSE:AIZ - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,241 shares of the financial services provider's stock, valued at approximately $7,947,000. Lbp Am Sa owned 0.08% of Assurant as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation National Association UT purchased a new stake in Assurant in the first quarter worth about $26,000. Alpine Bank Wealth Management purchased a new stake in Assurant in the first quarter worth about $28,000. Private Trust Co. NA grew its holdings in Assurant by 192.2% in the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock worth $31,000 after purchasing an additional 98 shares during the period. Assetmark Inc. grew its holdings in Assurant by 312.8% in the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock worth $34,000 after purchasing an additional 122 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock worth $38,000 after purchasing an additional 67 shares during the period. Hedge funds and other institutional investors own 92.65% of the company's stock.

Assurant Stock Up 0.4%

Shares of Assurant stock opened at $217.56 on Thursday. The company has a market cap of $10.98 billion, a price-to-earnings ratio of 15.75 and a beta of 0.55. The company's 50 day moving average is $207.69 and its 200 day moving average is $200.46. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $230.55. 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 issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, beating analysts' consensus estimates of $4.43 by $1.13. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Research analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were given a dividend of $0.80 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. Assurant's dividend payout ratio is 23.17%.

Insider Activity at Assurant

In related news, CAO Dimitry Dirienzo sold 950 shares of the 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 transaction, the chief accounting officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith Demmings sold 4,275 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were 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 approximately $21,668,400.44. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,400 shares of company stock worth $2,891,288 over the last quarter. Company insiders own 0.51% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AIZ shares. Morgan Stanley restated a "cautious" rating on shares of Assurant in a report on Monday, August 18th. Keefe, Bruyette & Woods upped their target price 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. BMO Capital Markets started coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 target price on the stock. Benchmark started coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued a "buy" rating on the stock. Finally, Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $234.83.

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.

Want to see what other hedge funds are holding AIZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Assurant, Inc. (NYSE:AIZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.