Shell Asset Management Co. Buys 7,028 Shares of Assurant, Inc. $AIZ

Shell Asset Management Co. increased its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 70.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,011 shares of the financial services provider's stock after purchasing an additional 7,028 shares during the quarter. Shell Asset Management Co.'s holdings in Assurant were worth $3,360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Assurant by 3.9% during the second quarter. GAMMA Investing LLC now owns 1,527 shares of the financial services provider's stock worth $302,000 after acquiring an additional 58 shares during the last quarter. Hartford Investment Management Co. raised its position in shares of Assurant by 1.3% during the second quarter. Hartford Investment Management Co. now owns 4,556 shares of the financial services provider's stock worth $900,000 after acquiring an additional 60 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Assurant by 47.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider's stock worth $40,000 after acquiring an additional 61 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of 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 acquiring an additional 67 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Assurant by 1.6% during the first quarter. KBC Group NV now owns 4,745 shares of the financial services provider's stock worth $995,000 after acquiring an additional 73 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIZ. Weiss Ratings restated a "buy (b-)" rating on shares of Assurant in a report on Saturday, September 27th. Morgan Stanley increased their price objective on shares of Assurant from $230.00 to $232.00 and gave the company an "equal weight" rating in a report on Tuesday. Zacks Research upgraded shares of Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Stephens began coverage on shares of Assurant in a report on Tuesday, August 12th. They issued an "overweight" rating on the stock. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $235.17.

Insider Buying and Selling

In related 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 sale, the executive vice president directly owned 7,875 shares in the company, valued at $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Keith Demmings sold 13,725 shares of the firm's stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the sale, the chief executive officer owned 84,647 shares in the company, valued at approximately $18,666,356.44. The trade was a 13.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,125 shares of company stock worth $5,917,925 over the last ninety days. Company insiders own 0.51% of the company's stock.

Assurant Trading Down 2.4%

AIZ opened at $216.40 on Wednesday. The firm's fifty day moving average is $210.40 and its two-hundred day moving average is $200.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $10.92 billion, a PE ratio of 15.67 and a beta of 0.55. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last posted 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 analyst estimates of $3.13 billion. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Equities research analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. 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.

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