Swedbank AB Sells 1,454 Shares of Assurant, Inc. $AIZ

Key Points

• Swedbank AB reduced its holdings in Assurant, Inc. by 22.7%, selling 1,454 shares during the second quarter, leaving them with 4,960 shares valued at approximately $980,000.
• Assurant reported earnings of $5.56 per share for the last quarter, exceeding analysts' expectations by $1.13, and had a revenue increase of 8.0% year-over-year.
• The company will pay a quarterly dividend of $0.80 on September 29th, representing an annualized yield of 1.5%.

Swedbank AB reduced its holdings in Assurant, Inc. (NYSE:AIZ - Free Report) by 22.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,960 shares of the financial services provider's stock after selling 1,454 shares during the quarter. Swedbank AB's holdings in Assurant were worth $980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AIZ. Zions Bancorporation National Association UT purchased a new position in shares of Assurant during the first quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new stake in shares of Assurant in the first quarter valued at $28,000. Private Trust Co. NA raised its stake in shares of Assurant by 192.2% in the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock valued at $31,000 after buying an additional 98 shares during the period. Assetmark Inc. raised its stake in shares of Assurant by 312.8% in the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock valued at $34,000 after buying an additional 122 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock valued at $38,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 92.65% of the company's stock.

Insider Transactions at Assurant

In other news, EVP Jay Rosenblum sold 3,900 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total value of $813,267.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Keith Demmings sold 4,275 shares of Assurant stock in a transaction on Friday, August 29th. The shares were sold at an average price of $220.27, for a total value of $941,654.25. Following the transaction, the chief executive officer owned 98,372 shares in the company, valued at $21,668,400.44. This trade represents a 4.16% 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 ninety days. Insiders own 0.51% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AIZ shares. Stephens began coverage on Assurant in a research note on Tuesday, August 12th. They set an "overweight" rating on the stock. BMO Capital Markets initiated coverage on Assurant in a research report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price objective on the stock. Keefe, Bruyette & Woods increased their price objective on Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Morgan Stanley restated a "cautious" rating on shares of Assurant in a report on Monday, August 18th. Finally, Benchmark started coverage on Assurant in a report on Tuesday, August 12th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $234.83.

Assurant Stock Up 0.8%

AIZ stock opened at $211.30 on Tuesday. 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 market cap of $10.66 billion, a PE ratio of 15.30 and a beta of 0.55. The business has a 50 day moving average of $203.71 and a 200 day moving average of $199.90.

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

Assurant Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. 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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