Assurant, Inc. $AIZ Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has increased its stake in Assurant, Inc. by 40.9%, owning 25,179 shares worth approximately $5.28 million after acquiring an additional 7,310 shares in the first quarter.
• Assurant recently reported earnings of $5.56 per share, surpassing the consensus estimate of $4.43, with quarterly revenue reaching $3.16 billion, reflecting an 8% year-over-year growth.
• The company announced a quarterly dividend of $0.80 per share, which will be paid on September 29th, with a current annualized yield of 1.5%.

Raymond James Financial Inc. lifted its position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 40.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,179 shares of the financial services provider's stock after buying an additional 7,310 shares during the quarter. Raymond James Financial Inc.'s holdings in Assurant were worth $5,281,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Ameriprise Financial Inc. grew its stake in Assurant by 37.1% during the 4th quarter. Ameriprise Financial Inc. now owns 56,841 shares of the financial services provider's stock worth $12,120,000 after buying an additional 15,377 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Assurant by 57.7% during the 4th quarter. BNP Paribas Financial Markets now owns 137,712 shares of the financial services provider's stock valued at $29,363,000 after acquiring an additional 50,407 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of Assurant in the 4th quarter valued at $13,070,000. Baird Financial Group Inc. boosted its holdings in shares of Assurant by 1.4% in the 4th quarter. Baird Financial Group Inc. now owns 6,984 shares of the financial services provider's stock valued at $1,489,000 after acquiring an additional 94 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in Assurant by 15.2% in the fourth quarter. Captrust Financial Advisors now owns 6,932 shares of the financial services provider's stock valued at $1,478,000 after purchasing an additional 917 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Insider Activity at Assurant

In related news, CEO Keith Demmings sold 4,275 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $220.27, for a total transaction of $941,654.25. Following the sale, the chief executive officer owned 98,372 shares of the company's stock, valued at approximately $21,668,400.44. The trade was a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Dimitry Dirienzo sold 950 shares of the stock in a transaction dated 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 sale, the chief accounting officer directly owned 3,135 shares in the company, valued at approximately $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 have sold a total of 13,400 shares of company stock worth $2,891,288 in the last three months. Insiders own 0.51% of the company's stock.

Assurant Trading Down 0.9%

NYSE AIZ traded down $1.83 during trading on Wednesday, hitting $209.27. The stock had a trading volume of 194,064 shares, compared to its average volume of 409,040. The company has a market capitalization of $10.56 billion, a PE ratio of 15.15 and a beta of 0.55. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $230.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $200.66 and a 200 day moving average price of $199.77.

Assurant (NYSE:AIZ - Get Free Report) last issued 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 company had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter last year, the company posted $4.77 EPS. The firm's 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 research analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The business 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 dividend yield of 1.5%. The ex-dividend date is Tuesday, September 2nd. Assurant's dividend payout ratio (DPR) is 23.17%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AIZ shares. Wall Street Zen raised shares of Assurant from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Stephens began coverage on Assurant in a research report on Tuesday, August 12th. They issued an "overweight" rating on the stock. BMO Capital Markets began coverage on Assurant in a report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 target price on the stock. Finally, Benchmark began coverage on shares of Assurant in a research report on Tuesday, August 12th. They set a "buy" rating on the stock. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.