Assurant, Inc. $AIZ Stock Position Lifted by Northwest & Ethical Investments L.P.

Key Points

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Northwest & Ethical Investments L.P. lifted its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 42.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,488 shares of the financial services provider's stock after purchasing an additional 1,919 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Assurant were worth $1,361,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in shares of Assurant in the 1st quarter worth approximately $26,000. Alpine Bank Wealth Management acquired a new position in shares of Assurant in the 1st quarter worth approximately $28,000. Private Trust Co. NA grew its stake 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 worth $31,000 after purchasing an additional 98 shares during the last quarter. Assetmark Inc. grew its stake in shares of Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock worth $34,000 after purchasing an additional 122 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake 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 worth $40,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Insider Buying and Selling

In related news, EVP Jay Rosenblum sold 3,900 shares of the business'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 transaction, the executive vice president directly owned 7,875 shares of the company's stock, valued at approximately $1,642,173.75. The trade was a 33.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 transaction of $194,712.00. Following the transaction, the chief accounting officer directly owned 3,135 shares in the company, valued at $642,549.60. The trade was a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.51% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AIZ. Benchmark assumed coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued a "buy" rating on the stock. BMO Capital Markets assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 target price on the stock. Morgan Stanley reissued a "cautious" rating on shares of Assurant in a research report on Monday, August 18th. Zacks Research raised shares of Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Finally, Stephens assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an "overweight" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $233.29.

Assurant Trading Up 0.4%

Shares of Assurant stock traded up $0.9030 during trading on Friday, hitting $215.7030. The stock had a trading volume of 393,003 shares, compared to its average volume of 460,496. The stock has a 50 day simple moving average of $196.16 and a 200 day simple moving average of $198.94. The company has a market capitalization of $10.88 billion, a PE ratio of 15.62 and a beta of 0.58. 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 quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, beating 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 firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm posted $4.77 earnings per share. The firm's revenue was up 8.0% on a year-over-year basis. 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 Dividend Announcement

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

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.