10,164 Shares in Assurant, Inc. $AIZ Purchased by Strs Ohio

Key Points

• Strs Ohio acquired 10,164 shares of Assurant, Inc. for approximately $2,132,000 during the first quarter, indicating institutional interest in the financial services provider.
• Assurant reported a quarterly earnings per share of $5.56, surpassing expectations by $1.13, along with a revenue of $3.16 billion.
• The company declared a quarterly dividend of $0.80 per share, reflecting a payout ratio of 23.17% and a yearly yield of 1.5% for shareholders.

Strs Ohio purchased a new position in Assurant, Inc. (NYSE:AIZ - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,164 shares of the financial services provider's stock, valued at approximately $2,132,000.

Several other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in shares of Assurant by 12.7% in the first quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider's stock worth $784,603,000 after purchasing an additional 420,069 shares during the period. Invesco Ltd. increased its stake in Assurant by 28.0% in the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock valued at $310,285,000 after acquiring an additional 323,573 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Assurant by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider's stock valued at $186,533,000 after acquiring an additional 72,046 shares during the last quarter. Northern Trust Corp increased its stake in Assurant by 1.1% in the first quarter. Northern Trust Corp now owns 841,006 shares of the financial services provider's stock valued at $176,401,000 after acquiring an additional 9,142 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Assurant by 5.6% in the first quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider's stock valued at $121,951,000 after acquiring an additional 30,629 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Assurant Price Performance

AIZ stock traded up $0.30 during mid-day trading on Friday, hitting $209.37. The company had a trading volume of 561,721 shares, compared to its average volume of 355,592. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 15.16 and a beta of 0.55. Assurant, Inc. has a 12-month low of $174.97 and a 12-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 company has a 50-day moving average price of $203.31 and a 200 day moving average price of $199.90.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, topping the consensus estimate of $4.43 by $1.13. The business had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.13 billion. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. On average, research analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given 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 dividend payout ratio is currently 23.17%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Zacks Research raised Assurant from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. BMO Capital Markets began coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price target for the company. Stephens began coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating for the company. Morgan Stanley restated a "cautious" rating on shares of Assurant in a research report on Monday, August 18th. Finally, Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Assurant currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.29.

Insider Activity

In other news, CAO Dimitry Dirienzo sold 950 shares of the company's 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 sale, the chief accounting officer directly owned 3,135 shares in the company, valued at approximately $642,549.60. This represents a 23.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of the company's stock in a transaction dated 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 owned 7,875 shares in the company, valued at $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. In the last three months, insiders have sold 13,400 shares of company stock worth $2,891,288. 0.51% of the stock is currently owned by corporate insiders.

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.