WBI Investments LLC Invests $585,000 in Assurant, Inc. $AIZ

Key Points

• WBI Investments LLC has invested $585,000 in Assurant, Inc., acquiring 2,790 shares during the first quarter, highlighting the growing interest from institutional investors in the company.
• Assurant recently posted quarterly earnings of $5.56 per share, exceeding expectations, with revenue up by 8.0% year-over-year to $3.16 billion.
• The company has declared a quarterly dividend of $0.80, representing a 1.5% dividend yield, with earnings projections for FY 2025 set at 22.390 EPS.

WBI Investments LLC bought a new position in Assurant, Inc. (NYSE:AIZ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,790 shares of the financial services provider's stock, valued at approximately $585,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new position in shares of Assurant in the first quarter worth approximately $26,000. Alpine Bank Wealth Management purchased a new stake in Assurant in the first quarter worth $28,000. Private Trust Co. NA lifted 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 worth $31,000 after acquiring an additional 98 shares during the period. Assetmark Inc. lifted its stake in Assurant by 312.8% in the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider's stock worth $34,000 after acquiring an additional 122 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in Assurant by 57.8% in the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock worth $38,000 after acquiring an additional 67 shares during the period. Institutional investors own 92.65% of the company's stock.

Assurant Stock Performance

Shares of Assurant stock opened at $213.36 on Friday. 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 firm has a market capitalization of $10.77 billion, a P/E ratio of 15.45 and a beta of 0.55. The business has a fifty day simple moving average of $201.06 and a two-hundred day simple moving average of $199.85. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $230.55.

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 the consensus estimate of $4.43 by $1.13. The business 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 company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last 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 analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. Assurant's payout ratio is currently 23.17%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AIZ. Zacks Research raised Assurant from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. Morgan Stanley reaffirmed a "cautious" rating on shares of Assurant in a research note on Monday, August 18th. Benchmark began coverage on Assurant in a research note on Tuesday, August 12th. They issued a "buy" rating for the company. Keefe, Bruyette & Woods raised their price target on Assurant from $225.00 to $235.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Finally, BMO Capital Markets assumed coverage on Assurant in a research report on Tuesday, August 12th. They set an "outperform" rating and a $238.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $233.29.

Insider Transactions at Assurant

In other news, CAO Dimitry Dirienzo sold 950 shares of Assurant stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $204.96, for a total value of $194,712.00. Following the completion of the transaction, the chief accounting officer owned 3,135 shares of the company's stock, valued at $642,549.60. The trade was a 23.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of Assurant stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total value of $813,267.00. Following the completion of the transaction, the executive vice president directly owned 7,875 shares of the company's stock, valued at approximately $1,642,173.75. This represents a 33.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,400 shares of company stock valued at $2,891,288 in the last quarter. 0.51% of the stock is owned by insiders.

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.

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