T. Rowe Price Investment Management Inc. Has $918.94 Million Position in Assurant, Inc. $AIZ

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Assurant, Inc. by 13.1%, owning 4,381,121 shares after selling 658,078 shares, which now represent 8.61% of the company valued at approximately $918.9 million.
• Analysts are generally optimistic about Assurant, with eight having a Buy rating and an average target price of $233.29, reflecting confidence in the company's performance.
• Assurant recently declared a quarterly dividend of $0.80, translating to an annual yield of 1.5%, indicating a healthy return for shareholders.

T. Rowe Price Investment Management Inc. decreased its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 13.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,381,121 shares of the financial services provider's stock after selling 658,078 shares during the period. T. Rowe Price Investment Management Inc. owned about 8.61% of Assurant worth $918,941,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AIZ. Principal Financial Group Inc. boosted its stake in shares of Assurant by 12.0% during the first quarter. Principal Financial Group Inc. now owns 79,289 shares of the financial services provider's stock valued at $16,631,000 after acquiring an additional 8,478 shares during the last quarter. Private Trust Co. NA increased its holdings in shares of Assurant by 192.2% during the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock worth $31,000 after buying an additional 98 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Assurant by 14.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,163 shares of the financial services provider's stock valued at $1,271,000 after acquiring an additional 766 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Assurant by 49.1% during the 1st quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider's stock valued at $2,137,000 after acquiring an additional 3,356 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Assurant by 35.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider's stock worth $1,287,000 after purchasing an additional 1,584 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIZ. 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 target for the company. Zacks Research upgraded Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods lifted their price target on Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Finally, Benchmark started coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $233.29.

Insider Transactions at Assurant

In related news, CAO Dimitry Dirienzo sold 950 shares of the 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 completion of the sale, the chief accounting officer owned 3,135 shares in the company, valued at $642,549.60. This trade represents a 23.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total transaction of $813,267.00. Following the transaction, the executive vice president owned 7,875 shares in the company, valued at $1,642,173.75. The trade was a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.51% of the company's stock.

Assurant Stock Down 0.8%

AIZ stock traded down $1.8350 during midday trading on Monday, reaching $214.0850. The company had a trading volume of 64,197 shares, compared to its average volume of 486,070. 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 has a market capitalization of $10.80 billion, a P/E ratio of 15.51 and a beta of 0.58. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $230.55. The company has a 50 day moving average of $196.16 and a two-hundred day moving average of $198.94.

Assurant (NYSE:AIZ - Get Free Report) last posted its 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 company had revenue of $3.16 billion during 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%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. On average, equities research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

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 payout ratio is 23.17%.

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.