Walleye Capital LLC Purchases 9,866 Shares of Assurant, Inc. $AIZ

Key Points

• Walleye Capital LLC increased its stake in Assurant, Inc. by 539.7% during the first quarter, owning a total of 11,694 shares valued at approximately $2.45 million by the end of the quarter.
• Assurant recently reported earnings of $5.56 per share, surpassing estimates by $1.13, with revenues of $3.16 billion, marking an 8% rise compared to the previous year.
• The company declared a quarterly dividend of $0.80 per share, resulting in an annualized yield of 1.5%, with a payout ratio of 23.17%.

Walleye Capital LLC boosted its position in Assurant, Inc. (NYSE:AIZ - Free Report) by 539.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,694 shares of the financial services provider's stock after acquiring an additional 9,866 shares during the quarter. Walleye Capital LLC's holdings in Assurant were worth $2,453,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in Assurant by 12.0% in 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 stake in 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 acquiring an additional 98 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Assurant by 14.2% in the first 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 during the last quarter. Yousif Capital Management LLC increased its stake in Assurant by 49.1% in the first 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 increased 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 valued at $1,287,000 after acquiring an additional 1,584 shares during the last quarter. Institutional investors own 92.65% of the company's stock.

Insider Activity

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of the transaction, the executive vice president owned 7,875 shares of the company's stock, valued at approximately $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The sale 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 firm's 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 directly owned 3,135 shares of the company's stock, valued at $642,549.60. This represents a 23.26% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

AIZ has been the topic of a number of research analyst reports. Benchmark started coverage on Assurant in a research note on Tuesday, August 12th. They issued a "buy" rating on the stock. Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods raised their price objective on Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. BMO Capital Markets started coverage on Assurant in a research note on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price objective on the stock. Finally, Morgan Stanley reaffirmed a "cautious" rating on shares of Assurant in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Assurant presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.29.

Assurant Trading Down 0.6%

Shares of Assurant stock traded down $1.35 during trading on Tuesday, reaching $213.47. 176,773 shares of the stock were exchanged, compared to its average volume of 486,113. 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, Inc. has a 1 year low of $174.97 and a 1 year high of $230.55. The stock's fifty day moving average is $198.34 and its 200 day moving average is $199.18. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 15.44 and a beta of 0.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data 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. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the business posted $4.77 earnings per share. Assurant's quarterly 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. As a group, equities research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal 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 $0.80 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a yield of 1.5%. Assurant's dividend payout ratio (DPR) 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.