American Century Companies Inc. Increases Position in Assurant, Inc. $AIZ

American Century Companies Inc. raised its position in Assurant, Inc. (NYSE:AIZ) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,257 shares of the financial services provider’s stock after purchasing an additional 2,602 shares during the period. American Century Companies Inc. owned 0.17% of Assurant worth $18,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Assurant by 47.3% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 190 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 61 shares during the last quarter. LRI Investments LLC increased its position in shares of Assurant by 14.0% in the 4th quarter. LRI Investments LLC now owns 553 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 68 shares during the last quarter. KBC Group NV increased its position in shares of Assurant by 1.6% in the 1st quarter. KBC Group NV now owns 4,745 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 73 shares during the last quarter. Forte Capital LLC ADV increased its position in shares of Assurant by 5.2% in the 1st quarter. Forte Capital LLC ADV now owns 1,620 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 80 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Assurant by 0.9% in the 1st quarter. Amalgamated Bank now owns 9,918 shares of the financial services provider’s stock valued at $2,080,000 after purchasing an additional 87 shares during the last quarter. 92.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Assurant

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of the firm’s stock in a transaction 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 approximately $642,549.60. This trade represents a 23.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AIZ. Benchmark started coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued a “buy” rating on the stock. Wall Street Zen upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods upped their target price on shares of Assurant from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, August 12th. Morgan Stanley restated a “cautious” rating on shares of Assurant in a report on Monday, August 18th. Finally, BMO Capital Markets started coverage on shares of Assurant in a report on Tuesday, August 12th. They issued an “outperform” rating and a $238.00 target price for the company. One equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.29.

Assurant Trading Up 0.4%

Shares of Assurant stock opened at $215.7030 on Monday. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $230.55. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $10.88 billion, a P/E ratio of 15.62 and a beta of 0.58. The company’s fifty day moving average is $196.16 and its two-hundred day moving average is $198.94.

Assurant (NYSE:AIZ) last issued 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. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the firm posted $4.77 EPS. Assurant’s revenue for the quarter was up 8.0% on a year-over-year basis. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Analysts forecast that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.80 per share. 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 dividend payout ratio (DPR) is presently 23.17%.

Assurant Company 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.