Assurant, Inc. $AIZ Shares Acquired by Nippon Life Global Investors Americas Inc.

Key Points

• Nippon Life Global Investors Americas Inc. increased its stake in Assurant, Inc. by 30%, acquiring an additional 1,270 shares during the first quarter, bringing its total holdings to 5,510 shares valued at approximately $1.16 million.
• Assurant reported earnings per share (EPS) of $5.56 for its latest quarter, exceeding analysts' expectations of $4.43, with revenue rising 8% year-over-year to $3.16 billion.
• The company has declared a quarterly dividend of $0.80 per share, with an annualized yield of 1.5%, scheduled to be paid on September 29th to shareholders on record as of September 2nd.

Nippon Life Global Investors Americas Inc. lifted its stake in Assurant, Inc. (NYSE:AIZ - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,510 shares of the financial services provider's stock after buying an additional 1,270 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in Assurant were worth $1,156,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AIZ. Gotham Asset Management LLC boosted its position in Assurant by 56.4% during the 1st quarter. Gotham Asset Management LLC now owns 77,657 shares of the financial services provider's stock valued at $16,289,000 after acquiring an additional 28,014 shares in the last quarter. Amundi increased its stake in shares of Assurant by 30.6% in the 1st quarter. Amundi now owns 367,161 shares of the financial services provider's stock worth $74,688,000 after purchasing an additional 85,962 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in shares of Assurant by 68.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 70,840 shares of the financial services provider's stock worth $14,859,000 after purchasing an additional 28,900 shares in the last quarter. Graham Capital Management L.P. increased its stake in shares of Assurant by 288.4% in the 1st quarter. Graham Capital Management L.P. now owns 5,659 shares of the financial services provider's stock worth $1,187,000 after purchasing an additional 4,202 shares in the last quarter. Finally, Quarry LP increased its stake in Assurant by 183.0% in the 1st quarter. Quarry LP now owns 1,494 shares of the financial services provider's stock worth $313,000 after buying an additional 966 shares in the last quarter. Hedge funds and other institutional investors own 92.65% of the company's stock.

Insider Buying and Selling at Assurant

In other Assurant news, CEO Keith Demmings sold 4,275 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $220.27, for a total value of $941,654.25. Following the completion of the sale, the chief executive officer directly owned 98,372 shares in the company, valued at $21,668,400.44. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of the firm'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 completion of the sale, the executive vice president owned 7,875 shares of the company's stock, valued at approximately $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,400 shares of company stock worth $2,891,288 over the last three months. Corporate insiders own 0.51% of the company's stock.

Assurant Stock Down 0.9%

AIZ stock traded down $1.94 during trading on Wednesday, hitting $209.17. 55,823 shares of the company's stock traded hands, compared to its average volume of 481,748. The firm has a market capitalization of $10.55 billion, a P/E ratio of 15.15 and a beta of 0.55. The business has a fifty day simple moving average of $200.30 and a two-hundred day simple moving average of $199.71. 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 1 year low of $174.97 and a 1 year 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 earnings per share for the quarter, beating the consensus estimate of $4.43 by $1.13. The company had revenue of $3.16 billion during 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%. Assurant's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Sell-side analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on AIZ. Benchmark started coverage on shares of Assurant in a report on Tuesday, August 12th. They issued a "buy" rating 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. Stephens started coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an "overweight" rating on the stock. BMO Capital Markets started coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price objective on the stock. Finally, Keefe, Bruyette & Woods increased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Assurant has an average rating of "Moderate Buy" and a consensus target price of $233.29.

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.