2,446 Shares in Assurant, Inc. $AIZ Acquired by Vident Advisory LLC

Key Points

• Vident Advisory LLC has invested approximately $513,000 in Assurant, Inc. by purchasing 2,446 shares, as disclosed in their recent filing with the SEC.
• Multiple institutional investors have shown increased interest in Assurant, with % of institutional ownership now at 92.65%, highlighting a trend of significant investment in the company.
• Assurant has announced a quarterly dividend of $0.80 per share, with a payment date set for September 29th, 2023, reflecting a dividend yield of 1.5%.

Vident Advisory LLC purchased a new position in shares of Assurant, Inc. (NYSE:AIZ - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,446 shares of the financial services provider's stock, valued at approximately $513,000.

Other institutional investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in Assurant in the first quarter valued at $26,000. Alpine Bank Wealth Management acquired a new position in shares of Assurant during the 1st quarter worth approximately $28,000. Private Trust Co. NA raised its position 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 purchasing an additional 98 shares during the last quarter. Assetmark Inc. raised its position in shares of Assurant by 312.8% during the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock worth $34,000 after purchasing an additional 122 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its stake 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 valued at $40,000 after buying an additional 61 shares during the period. 92.65% of the stock is currently owned by institutional investors and hedge funds.

Assurant Trading Down 0.1%

Shares of Assurant stock traded down $0.28 during trading on Friday, hitting $213.03. The stock had a trading volume of 246,494 shares, compared to its average volume of 381,590. The stock has a 50 day simple moving average of $201.45 and a 200 day simple moving average of $199.89. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $230.55. The company has a market capitalization of $10.75 billion, a PE ratio of 15.43 and a beta of 0.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, beating analysts' consensus estimates of $4.43 by $1.13. The firm had revenue of $3.16 billion for 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 firm's revenue was up 8.0% on a year-over-year basis. 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, research analysts expect that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared 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. This represents a $3.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Assurant's payout ratio is 23.17%.

Insider Buying and Selling at Assurant

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total value of $813,267.00. Following the sale, the executive vice president owned 7,875 shares of the company's stock, valued at $1,642,173.75. The trade was a 33.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Dimitry Dirienzo sold 950 shares of the company's stock in a transaction dated Friday, August 8th. The stock was 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 directly owned 3,135 shares in the company, valued at approximately $642,549.60. The trade was a 23.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,400 shares of company stock valued at $2,891,288 in the last 90 days. 0.51% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AIZ has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed a "cautious" rating on shares of Assurant in a research note on Monday, August 18th. Benchmark assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They set a "buy" rating for the company. Stephens assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They set an "overweight" rating for the company. Keefe, Bruyette & Woods raised their price objective on shares of Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Finally, BMO Capital Markets assumed coverage on shares of Assurant in a report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Assurant presently has an average rating of "Moderate Buy" and an average target price of $233.29.

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.