Northwestern Mutual Wealth Management Co. Sells 75 Shares of Assurant, Inc. $AIZ

Northwestern Mutual Wealth Management Co. trimmed its stake in Assurant, Inc. (NYSE:AIZ) by 17.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344 shares of the financial services provider’s stock after selling 75 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Assurant were worth $72,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AIZ. Zions Bancorporation National Association UT bought a new position in shares of Assurant in the 1st quarter worth $26,000. Alpine Bank Wealth Management bought a new position in shares of Assurant in the 1st quarter worth $28,000. Private Trust Co. NA raised its position in shares of Assurant by 192.2% in the 1st 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 in the last quarter. Assetmark Inc. raised its position in shares of 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 acquiring an additional 122 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised 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 worth $40,000 after acquiring an additional 61 shares in the last quarter. 92.65% of the stock is owned by institutional investors.

Insider Transactions at Assurant

In other news, EVP Jay Rosenblum sold 3,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total value of $813,267.00. Following the transaction, the executive vice president owned 7,875 shares in the company, valued at $1,642,173.75. This trade represents a 33.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Keith Demmings sold 4,275 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $220.27, for a total value of $941,654.25. Following the completion of the transaction, the chief executive officer owned 98,372 shares in the company, valued at approximately $21,668,400.44. This trade represents a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,400 shares of company stock worth $2,891,288 over the last quarter. 0.51% of the stock is currently owned by insiders.

Assurant Stock Down 2.5%

Assurant stock opened at $211.12 on Friday. Assurant, Inc. has a fifty-two week low of $174.97 and a fifty-two week 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 cap of $10.65 billion, a PE ratio of 15.29 and a beta of 0.55. The business’s 50-day simple moving average is $199.75 and its two-hundred day simple moving average is $199.55.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $1.13. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The firm had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the business earned $4.77 earnings per share. The company’s 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. Equities analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

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 paid a $0.80 dividend. The ex-dividend date 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 is presently 23.17%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Benchmark assumed coverage on Assurant in a research report on Tuesday, August 12th. They issued a “buy” rating for the company. Stephens assumed coverage on Assurant in a research report on Tuesday, August 12th. They set an “overweight” rating on the stock. Zacks Research raised Assurant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Morgan Stanley reaffirmed a “cautious” rating on shares of Assurant in a research report on Monday, August 18th. 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 target price on the stock. One investment 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.29.

About Assurant

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.