Assurant, Inc. $AIZ Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Key Points

• Meiji Yasuda Asset Management Co Ltd. significantly increased its stake in Assurant, Inc. by purchasing 18,430 shares, bringing their total holdings to 20,074 shares, worth approximately $4.21 million.
• Assurant recently reported strong quarterly earnings, with $5.56 EPS surpassing estimates of $4.43, and revenue of $3.16 billion, up 8% year-over-year.
• The company has declared a quarterly dividend of $0.80 per share, expected to yield 1.5%, with a dividend payout ratio of 23.17%.

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 1,121.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,074 shares of the financial services provider's stock after buying an additional 18,430 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Assurant were worth $4,211,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Assurant by 12.0% during the 1st quarter. Principal Financial Group Inc. now owns 79,289 shares of the financial services provider's stock worth $16,631,000 after buying an additional 8,478 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Assurant by 192.2% during the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock worth $31,000 after buying an additional 98 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Assurant by 14.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,163 shares of the financial services provider's stock worth $1,271,000 after buying an additional 766 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Assurant by 49.1% during the 1st quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider's stock worth $2,137,000 after buying an additional 3,356 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Assurant by 35.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider's stock worth $1,287,000 after buying an additional 1,584 shares in the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stephens assumed coverage on Assurant in a research note on Tuesday, August 12th. They set an "overweight" rating for the company. Keefe, Bruyette & Woods increased their target price on Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Zacks Research upgraded Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. BMO Capital Markets began coverage on Assurant in a report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price target on the stock. Finally, Morgan Stanley restated a "cautious" rating on shares of Assurant in a report on Monday, August 18th. One 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $233.29.

Assurant Price Performance

Shares of AIZ traded down $0.28 on Friday, reaching $213.03. The stock had a trading volume of 246,494 shares, compared to its average volume of 365,000. The firm has a market capitalization of $10.75 billion, a PE ratio of 15.43 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. The firm has a 50-day moving average of $201.45 and a 200 day moving average of $199.76. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, beating analysts' consensus estimates of $4.43 by $1.13. The firm had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.13 billion. Assurant had a return on equity of 16.47% and a net margin of 5.83%.Assurant's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Sell-side analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

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

Insider Buying and Selling at Assurant

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total transaction of $813,267.00. Following the sale, the executive vice president owned 7,875 shares in the company, valued at approximately $1,642,173.75. This represents a 33.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dimitry Dirienzo sold 950 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $204.96, for a total value of $194,712.00. Following the sale, 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. In the last 90 days, insiders have sold 13,400 shares of company stock worth $2,891,288. 0.51% of the stock is owned by insiders.

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.