Pensionfund Sabic Has $1.20 Million Stake in Assurant, Inc. $AIZ

Key Points

• Pensionfund Sabic reduced its stake in Assurant, Inc. by 18.6%, leaving it with a total of 5,700 shares valued at approximately $1.20 million as of the latest SEC filing.
• Assurant reported a 12% increase in revenue year-over-year for the recent quarter, achieving $3.16 billion and earnings per share of $5.56, exceeding analysts' expectations.
• The company recently declared a quarterly dividend of $0.80, which will be paid to shareholders, representing an annualized yield of 1.5%.

Pensionfund Sabic cut its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 18.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,700 shares of the financial services provider's stock after selling 1,300 shares during the period. Pensionfund Sabic's holdings in Assurant were worth $1,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AIZ. Zions Bancorporation National Association UT acquired a new position in shares of Assurant during the first quarter worth approximately $26,000. Alpine Bank Wealth Management bought a new stake in Assurant during the first quarter worth approximately $28,000. Private Trust Co. NA raised its holdings in 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 purchasing an additional 98 shares in the last quarter. Assetmark Inc. raised its holdings in 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 purchasing an additional 122 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Assurant by 57.8% during the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock worth $38,000 after purchasing an additional 67 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Stephens assumed coverage on Assurant in a report on Tuesday, August 12th. They set an "overweight" rating on the stock. BMO Capital Markets assumed coverage on Assurant in a report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 target price on the stock. Benchmark started coverage on Assurant in a report on Tuesday, August 12th. They set a "buy" rating on the stock. Zacks Research raised Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Finally, Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Assurant has an average rating of "Moderate Buy" and an average target price of $233.29.

Assurant Trading Down 0.1%

NYSE AIZ traded down $0.26 on Friday, hitting $208.81. 81,001 shares of the stock were exchanged, compared to its average volume of 474,791. Assurant, Inc. has a 52-week low of $174.97 and a 52-week 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. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 15.12 and a beta of 0.55. The company's 50-day moving average price is $202.87 and its two-hundred day moving average price is $199.87.

Assurant (NYSE:AIZ - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the company posted $4.77 EPS. Assurant'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. Research analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

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

Insider Activity

In other news, CAO Dimitry Dirienzo sold 950 shares of the business'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 in the company, valued at $642,549.60. The trade was a 23.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jay Rosenblum sold 3,900 shares of the business'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 transaction, the executive vice president owned 7,875 shares in the company, valued at approximately $1,642,173.75. This represents a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,400 shares of company stock worth $2,891,288 in the last ninety days. Corporate insiders own 0.51% of the company's stock.

Assurant Company 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.