Robeco Institutional Asset Management B.V. Sells 27,250 Shares of Assurant, Inc. $AIZ

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Assurant, Inc. by 13% in Q2, selling 27,250 shares and now owning about 182,886 shares worth $36.12 million.
• Assurant's recent earnings report showed $5.56 EPS for the quarter, exceeding the consensus estimate of $4.43 and highlighting an 8% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.80, resulting in an annualized dividend yield of 1.5% with a payout ratio of 23.17%.

Robeco Institutional Asset Management B.V. decreased its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 13.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 182,886 shares of the financial services provider's stock after selling 27,250 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.36% of Assurant worth $36,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in Assurant by 3.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,527 shares of the financial services provider's stock valued at $302,000 after buying an additional 58 shares in the last quarter. Hartford Investment Management Co. raised its holdings in shares of Assurant by 1.3% in the 2nd quarter. Hartford Investment Management Co. now owns 4,556 shares of the financial services provider's stock valued at $900,000 after purchasing an additional 60 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings 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 purchasing an additional 61 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Assurant by 57.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 67 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Assurant by 1.6% in the 1st quarter. KBC Group NV now owns 4,745 shares of the financial services provider's stock valued at $995,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Benchmark assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They issued a "buy" rating for the company. BMO Capital Markets assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price target for the company. Stephens assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They issued an "overweight" rating for the company. Finally, Morgan Stanley restated a "cautious" rating on shares of Assurant in a report on Monday, August 18th. One 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $234.83.

Assurant Stock Up 0.8%

NYSE:AIZ opened at $220.06 on Friday. The company has a market cap of $11.10 billion, a PE ratio of 15.93 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 current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The company's 50 day moving average is $209.04 and its two-hundred day moving average is $200.54.

Assurant (NYSE:AIZ - Get Free Report) last released 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 company had revenue of $3.16 billion for 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%. Assurant's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Assurant's dividend payout ratio is 23.17%.

Insider Activity

In other news, EVP Jay Rosenblum sold 3,900 shares of the company's stock in a transaction 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 sale, the executive vice president directly owned 7,875 shares of the company's stock, valued at $1,642,173.75. This represents a 33.12% decrease in their position. 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 company'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 completion of the sale, the chief accounting officer directly owned 3,135 shares in the company, 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. Insiders have sold 13,400 shares of company stock valued at $2,891,288 in the last ninety days. Insiders own 0.51% of the company's stock.

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.

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