Mountain Pacific Investment Advisers LLC Has $29.93 Million Holdings in Assurant, Inc. $AIZ

Key Points

• Mountain Pacific Investment Advisers LLC increased its holdings in Assurant, Inc. by 0.9%, owning approximately $29.93 million worth of shares, making it the 16th largest holding in their portfolio.
• Assurant recently reported quarterly earnings of $5.56 EPS, exceeding estimates and showing an 8.0% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.80 per share, resulting in an annualized dividend yield of 1.5% and a payout ratio of 23.17%.

Mountain Pacific Investment Advisers LLC boosted its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,558 shares of the financial services provider's stock after purchasing an additional 1,287 shares during the quarter. Assurant accounts for about 2.2% of Mountain Pacific Investment Advisers LLC's portfolio, making the stock its 16th largest holding. Mountain Pacific Investment Advisers LLC owned approximately 0.30% of Assurant worth $29,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. 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 in the last quarter. Invesco Ltd. raised its holdings in Assurant by 28.0% in the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock valued at $310,285,000 after acquiring an additional 323,573 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Assurant by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider's stock valued at $186,533,000 after acquiring an additional 72,046 shares during the period. Northern Trust Corp grew its holdings in shares of Assurant by 1.1% during the 1st quarter. Northern Trust Corp now owns 841,006 shares of the financial services provider's stock worth $176,401,000 after purchasing an additional 9,142 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Assurant by 5.6% in the first quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider's stock worth $121,951,000 after purchasing an additional 30,629 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Stock Performance

Assurant stock opened at $217.56 on Thursday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $230.55. The business has a 50 day moving average of $207.69 and a 200-day moving average of $200.46. The company has a market capitalization of $10.98 billion, a P/E ratio of 15.75 and a beta of 0.55.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business earned $4.77 EPS. The company's 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. On average, equities research analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

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

Insider Activity

In related news, EVP Jay Rosenblum sold 3,900 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 7,875 shares of the company's stock, valued at $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Dimitry Dirienzo sold 950 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 3,135 shares in the company, valued at approximately $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. Insiders have sold 13,400 shares of company stock valued at $2,891,288 in the last ninety days. 0.51% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Stephens began coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued an "overweight" rating on the stock. BMO Capital Markets started coverage on Assurant in a research note on Tuesday, August 12th. They set an "outperform" rating and a $238.00 target price for the company. Benchmark began coverage on Assurant in a report on Tuesday, August 12th. They set a "buy" rating for the company. Finally, Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $234.83.

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.

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