Northern Trust Corp Purchases 9,142 Shares of Assurant, Inc. $AIZ

Key Points

• Northern Trust Corp increased its holdings in Assurant, Inc. by 1.1% in Q1, owning approximately 1.65% of the company, valued at $176.4 million.
• Assurant's stock opened at $214.59, with a market cap of $10.83 billion, following a report of $5.56 EPS for the last quarter, beating estimates and showing an 8% revenue increase year-over-year.
• The company declared a quarterly dividend of $0.80 per share, with a dividend yield of 1.5%, expected to be paid to shareholders on September 29th.

Northern Trust Corp raised its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 1.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 841,006 shares of the financial services provider's stock after purchasing an additional 9,142 shares during the period. Northern Trust Corp owned approximately 1.65% of Assurant worth $176,401,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AIZ. Zions Bancorporation National Association UT acquired a new position in shares of Assurant in the 1st quarter valued at approximately $26,000. Alpine Bank Wealth Management acquired a new position in shares of Assurant in the 1st quarter valued at approximately $28,000. Private Trust Co. NA raised its position in shares of Assurant by 192.2% in the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock valued at $31,000 after buying an additional 98 shares in the last quarter. Assetmark Inc. raised its position in shares of Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock valued at $34,000 after buying an additional 122 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Assurant by 47.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider's stock valued at $40,000 after buying an additional 61 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AIZ shares. 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 target price for the company. Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Zacks Research upgraded 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 company an "outperform" rating in a research report on Tuesday, August 12th. Finally, Stephens assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $233.29.

Insider Buying and Selling at Assurant

In other news, EVP Jay Rosenblum sold 3,900 shares of the firm's stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Dimitry Dirienzo sold 950 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer directly owned 3,135 shares of the company's stock, valued at $642,549.60. The trade was a 23.26% decrease in their position. The disclosure for this sale can be found here. 0.51% of the stock is currently owned by company insiders.

Assurant Price Performance

AIZ stock traded up $0.9030 during trading on Friday, reaching $215.7030. 393,003 shares of the company were exchanged, compared to its average volume of 460,496. The company has a 50-day moving average of $196.16 and a two-hundred day moving average of $198.94. The company has a market capitalization of $10.88 billion, a price-to-earnings ratio of 15.62 and a beta of 0.58. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $230.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.43 by $1.13. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the prior year, the company earned $4.77 EPS. The firm's quarterly 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. As a group, equities analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

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

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.