Strs Ohio Purchases New Shares in Assurant, Inc. $AIZ

Strs Ohio purchased a new stake in shares of Assurant, Inc. (NYSE:AIZ) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,164 shares of the financial services provider’s stock, valued at approximately $2,132,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in shares of 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 purchasing an additional 8,478 shares during the period. Private Trust Co. NA grew its position in shares of 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 purchasing an additional 98 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 purchasing an additional 766 shares during the period. Yousif Capital Management LLC boosted its position in Assurant by 49.1% during the first quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider’s stock worth $2,137,000 after acquiring an additional 3,356 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Assurant by 35.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider’s stock worth $1,287,000 after acquiring an additional 1,584 shares during the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Price Performance

AIZ opened at $208.36 on Tuesday. The company’s 50 day simple moving average is $201.79 and its 200 day simple moving average is $199.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $230.55. The stock has a market capitalization of $10.51 billion, a PE ratio of 15.09 and a beta of 0.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings results 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. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Assurant had a net margin of 5.83% and a return on equity of 16.47%. Assurant’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, sell-side analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a yield of 1.5%. Assurant’s payout ratio is presently 23.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AIZ shares. Morgan Stanley restated a “cautious” rating on shares of Assurant in a research report on Monday, August 18th. Keefe, Bruyette & Woods boosted their price target on shares of Assurant from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Assurant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. 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 on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.29.

Insider Buying and Selling at Assurant

In other news, EVP Jay Rosenblum sold 3,900 shares of the business’s stock in a transaction 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. The trade was a 33.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Keith Demmings sold 4,275 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $220.27, for a total transaction of $941,654.25. Following the transaction, the chief executive officer directly owned 98,372 shares of the company’s stock, 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 sold a total of 13,400 shares of company stock worth $2,891,288 over the last 90 days. Insiders own 0.51% of the company’s stock.

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.