Nissay Asset Management Corp Japan ADV Sells 7,768 Shares of Assurant, Inc. $AIZ

Key Points

• Nissay Asset Management Corp Japan ADV reduced its holdings in Assurant, Inc. by 39.1% during the first quarter, resulting in ownership of 12,092 shares valued at $2,536,000.
• Assurant's stock receives a consensus rating of "Moderate Buy" with a target price of $233.29, following upgrades from multiple analysts in August.
• The company announced a quarterly dividend of $0.80 per share, set to be paid on September 29th, representing an annual yield of 1.5%.

Nissay Asset Management Corp Japan ADV lessened its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 39.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,092 shares of the financial services provider's stock after selling 7,768 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Assurant were worth $2,536,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of AIZ. Zions Bancorporation National Association UT acquired a new position in shares of Assurant during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in shares of Assurant during the first quarter worth $28,000. Private Trust Co. NA increased its position in shares of Assurant by 192.2% during the first 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 during the period. Assetmark Inc. increased its position in shares of Assurant by 312.8% during the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock worth $34,000 after buying an additional 122 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Assurant by 47.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider's stock worth $40,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Stock Performance

Shares of AIZ traded down $0.28 during trading hours on Friday, hitting $213.03. The company's stock had a trading volume of 246,494 shares, compared to its average volume of 365,000. The company has a market cap of $10.75 billion, a price-to-earnings ratio of 15.43 and a beta of 0.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50 day simple moving average of $201.45 and a two-hundred day simple moving average of $199.76. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last posted its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, topping the consensus estimate of $4.43 by $1.13. The firm 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%. The company's revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. On average, equities analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given a $0.80 dividend. 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 (DPR) is 23.17%.

Insider Activity

In other news, 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 value of $813,267.00. Following the completion of the transaction, the executive vice president directly owned 7,875 shares in the company, valued at approximately $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dimitry Dirienzo sold 950 shares of the firm'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 completion of the transaction, the chief accounting officer owned 3,135 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 13,400 shares of company stock worth $2,891,288. 0.51% of the stock is owned by company insiders.

Analyst Ratings Changes

AIZ has been the topic of several research analyst reports. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Morgan Stanley restated a "cautious" rating on shares of Assurant in a report on Monday, August 18th. Stephens assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They set an "overweight" rating for the company. Finally, BMO Capital Markets assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $233.29.

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.