2,221 Shares in Assurant, Inc. $AIZ Acquired by National Wealth Management Group LLC

Key Points

• National Wealth Management Group LLC has acquired a new position in Assurant, Inc., purchasing 2,221 shares valued at approximately $466,000.
• Analysts have mostly upgraded Assurant's stock ratings, with one strong buy, eight buy, and one sell, leading to a consensus target price of $233.29.
• Assurant recently declared a quarterly dividend of $0.80, translating to an annualized yield of 1.5%, with a payout ratio of 23.17%.

National Wealth Management Group LLC bought a new position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,221 shares of the financial services provider's stock, valued at approximately $466,000.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Assurant by 12.0% during the first 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 during the last quarter. Private Trust Co. NA increased its stake in Assurant by 192.2% in the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Assurant by 14.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,163 shares of the financial services provider's stock valued at $1,271,000 after purchasing an additional 766 shares in the last quarter. Yousif Capital Management LLC increased its stake in Assurant by 49.1% in the first quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider's stock valued at $2,137,000 after purchasing an additional 3,356 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Assurant by 35.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider's stock valued at $1,287,000 after purchasing an additional 1,584 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on AIZ. BMO Capital Markets began coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued 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. Keefe, Bruyette & Woods boosted their target price 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. Benchmark began coverage on shares of Assurant in a research report on Tuesday, August 12th. They set a "buy" rating for the company. Finally, Stephens began coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating for the company. One research 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 company. According to data from MarketBeat, Assurant presently has a consensus rating of "Moderate Buy" and an average price target of $233.29.

Assurant Stock Down 0.3%

Assurant stock traded down $0.73 during midday trading on Tuesday, hitting $211.02. 269,649 shares of the stock were exchanged, compared to its average volume of 484,231. 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 stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 15.28 and a beta of 0.55. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $230.55. The business's 50-day moving average price is $200.03 and its 200-day moving average price is $199.63.

Assurant (NYSE:AIZ - Get Free Report) last released its earnings results 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 firm had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.13 billion. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The company's quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. On average, research analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

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

Insider Activity at Assurant

In related news, CAO Dimitry Dirienzo sold 950 shares of the company'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 transaction of $194,712.00. Following the sale, the chief accounting officer directly owned 3,135 shares in the company, valued at approximately $642,549.60. This represents a 23.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jay Rosenblum sold 3,900 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were 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 $1,642,173.75. The trade was a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,400 shares of company stock worth $2,891,288. 0.51% of the stock is owned by corporate 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.