Wealth Enhancement Advisory Services LLC Has $946,000 Position in Assurant, Inc. $AIZ

Key Points

• Wealth Enhancement Advisory Services LLC has decreased its stake in Assurant, Inc. by 20.3% to own 4,887 shares, valued at $946,000, as of the latest SEC filing.
• Assurant reported earnings per share of $5.56 for the recent quarter, exceeding analysts' estimates of $4.43, alongside a revenue of $3.16 billion, which was above the expected $3.13 billion.
• The company recently announced a quarterly dividend of $0.80 per share, equating to an annual yield of 1.5%, with a payout ratio of 23.17%.

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Assurant, Inc. (NYSE:AIZ - Free Report) by 20.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,887 shares of the financial services provider's stock after selling 1,248 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Assurant were worth $946,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in AIZ. Principal Financial Group Inc. boosted 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 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock valued at $31,000 after buying an additional 98 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Assurant by 14.2% in 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 buying an additional 766 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Assurant by 7.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,501 shares of the financial services provider's stock worth $74,357,000 after purchasing an additional 24,153 shares during the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of Assurant by 49.1% during the 1st quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider's stock worth $2,137,000 after purchasing an additional 3,356 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company's stock.

Assurant Stock Up 0.5%

Shares of NYSE AIZ opened at $218.50 on Friday. The firm has a market cap of $11.03 billion, a PE ratio of 15.82 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's fifty day simple moving average is $208.36 and its 200 day simple moving average is $200.48. 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 released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, beating analysts' consensus estimates of $4.43 by $1.13. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the firm earned $4.77 earnings per share. The business'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, sell-side analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Tuesday, September 2nd. Assurant's dividend payout ratio (DPR) is 23.17%.

Insider Transactions at Assurant

In other news, 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 value of $194,712.00. Following the completion of the transaction, the chief accounting officer directly owned 3,135 shares in the company, valued at approximately $642,549.60. This trade represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,400 shares of company stock worth $2,891,288 over the last quarter. Corporate insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

AIZ has been the subject of several research analyst reports. Zacks Research raised shares of Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Benchmark initiated coverage on shares of Assurant in a research report on Tuesday, August 12th. They set a "buy" rating for the company. Morgan Stanley reiterated a "cautious" rating on shares of Assurant in a research report on Monday, August 18th. Stephens initiated coverage on shares of Assurant in a research report on Tuesday, August 12th. They set an "overweight" rating for the company. Finally, Wall Street Zen upgraded shares of Assurant from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $234.83.

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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