Assurant, Inc. $AIZ Shares Purchased by Swedbank AB

Key Points

• Swedbank AB significantly increased its stake in Assurant, Inc. by 125.4% during the first quarter of the year, reinforcing institutional interest in the company.
• CEO Keith Demmings sold 4,275 shares for around $941,654, marking a 4.16% decrease in his shareholding, while the company’s insiders collectively sold 13,400 shares worth nearly $2.9 million in the last ninety days.
• Assurant recently reported earnings of $5.56 per share, exceeding analysts' estimates, and announced a quarterly dividend of $0.80 per share, marking a 1.6% yield.

Swedbank AB grew its holdings in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 125.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,414 shares of the financial services provider's stock after buying an additional 3,569 shares during the quarter. Swedbank AB's holdings in Assurant were worth $1,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in Assurant during the 1st quarter valued at about $26,000. Alpine Bank Wealth Management bought a new stake in shares of Assurant in the 1st quarter valued at about $28,000. Private Trust Co. NA raised its holdings in shares of Assurant by 192.2% in the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 122 shares in the last quarter. Finally, 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. Institutional investors own 92.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AIZ. BMO Capital Markets began coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price objective on the stock. Benchmark began coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued a "buy" rating on the stock. Zacks Research raised shares of Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Morgan Stanley reaffirmed a "cautious" rating on shares of Assurant in a research report on Monday, August 18th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $233.29.

Assurant Trading Up 0.1%

Assurant stock traded up $0.30 during midday trading on Friday, hitting $209.37. 561,721 shares of the stock were exchanged, compared to its average volume of 355,592. Assurant, Inc. has a fifty-two week low of $174.97 and a fifty-two week high of $230.55. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 15.16 and a beta of 0.55. The stock's 50-day simple moving average is $203.31 and its 200 day simple moving average is $199.90. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ - Get Free Report) last announced 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. 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 analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $4.77 earnings per share. Assurant'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. On average, equities 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 will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. Assurant's dividend payout ratio (DPR) is presently 23.17%.

Insiders Place Their Bets

In other Assurant news, CEO Keith Demmings sold 4,275 shares of the business's stock in a transaction on 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 directly owned 98,372 shares in the company, valued at approximately $21,668,400.44. The trade was a 4.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of 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. Over the last quarter, insiders have sold 13,400 shares of company stock valued at $2,891,288. 0.51% of the stock is owned by corporate insiders.

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.