Vident Advisory LLC Purchases Shares of 2,446 Assurant, Inc. $AIZ

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 bought a new stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,446 shares of the financial services provider's stock, valued at approximately $513,000.

A number of other large investors have also recently modified their holdings of AIZ. Zions Bancorporation National Association UT purchased a new stake in shares of Assurant in the first quarter worth $26,000. Alpine Bank Wealth Management bought a new position in shares of Assurant during the first quarter valued at $28,000. Private Trust Co. NA lifted its holdings in shares of Assurant by 192.2% during the first 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. grew its position in Assurant by 312.8% in 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 period. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Assurant by 47.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider's stock worth $40,000 after purchasing an additional 61 shares during the period. Institutional investors own 92.65% of the company's stock.

Assurant Trading Down 0.3%

AIZ traded down $0.73 on Tuesday, hitting $211.02. The company had a trading volume of 269,649 shares, compared to its average volume of 415,768. The company has a market cap of $10.65 billion, a PE ratio of 15.28 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 business's fifty day simple moving average is $200.30 and its 200 day simple moving average is $199.71.

Assurant (NYSE:AIZ - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.43 by $1.13. The business 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 firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Equities research analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The business 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. 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 23.17%.

Insider Transactions at Assurant

In other news, CEO Keith Demmings sold 4,275 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 98,372 shares in the company, valued at approximately $21,668,400.44. This trade represents a 4.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dimitry Dirienzo sold 950 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $204.96, for a total transaction of $194,712.00. Following the transaction, the chief accounting officer owned 3,135 shares in the company, valued at approximately $642,549.60. This represents a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,400 shares of company stock valued at $2,891,288. 0.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on AIZ shares. Stephens started coverage on Assurant in a 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. BMO Capital Markets started coverage on Assurant in a research report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price objective on the stock. Keefe, Bruyette & Woods boosted 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. Finally, Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Assurant currently has a consensus rating of "Moderate Buy" and an average price target of $233.29.

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.