Voya Investment Management LLC Has $11.78 Million Holdings in Assurant, Inc. $AIZ

Voya Investment Management LLC lowered its holdings in Assurant, Inc. (NYSE:AIZ) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,143 shares of the financial services provider’s stock after selling 214 shares during the quarter. Voya Investment Management LLC owned about 0.11% of Assurant worth $11,776,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp grew its position in Assurant by 12.7% in the 1st quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider’s stock valued at $784,603,000 after purchasing an additional 420,069 shares during the period. Invesco Ltd. grew its position in Assurant by 28.0% in the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider’s stock valued at $310,285,000 after purchasing an additional 323,573 shares during the period. Price T Rowe Associates Inc. MD grew its position in Assurant by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider’s stock valued at $186,533,000 after purchasing an additional 72,046 shares during the period. Northern Trust Corp grew its position in Assurant by 1.1% in the 1st quarter. Northern Trust Corp now owns 841,006 shares of the financial services provider’s stock valued at $176,401,000 after purchasing an additional 9,142 shares during the period. Finally, Deutsche Bank AG grew its position in Assurant by 5.6% in the 1st quarter. Deutsche Bank AG now owns 581,411 shares of the financial services provider’s stock valued at $121,951,000 after purchasing an additional 30,629 shares during the period. Institutional investors and hedge funds own 92.65% of the company’s stock.

Assurant Stock Performance

Shares of AIZ stock opened at $205.39 on Wednesday. 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 $10.36 billion, a P/E ratio of 14.87 and a beta of 0.55. The stock has a 50 day moving average price of $202.10 and a two-hundred day moving average price of $199.81. Assurant, Inc. has a fifty-two week low of $174.97 and a fifty-two week high of $230.55.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $1.13. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Analysts expect that Assurant, Inc. will post 16.88 earnings per share 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. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. Assurant’s dividend payout ratio is currently 23.17%.

Insider Transactions at Assurant

In other news, CEO Keith Demmings sold 4,275 shares of the company’s stock in a transaction on Friday, August 29th. The stock was 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 $21,668,400.44. This represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Dimitry Dirienzo sold 950 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer directly owned 3,135 shares in the company, valued at approximately $642,549.60. The trade was a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,400 shares of company stock valued at $2,891,288. Insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AIZ. BMO Capital Markets began coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an “outperform” rating and a $238.00 price target for the company. Morgan Stanley restated a “cautious” rating on shares of Assurant in a research note on Monday, August 18th. Stephens started coverage on Assurant in a research note on Tuesday, August 12th. They set an “overweight” rating on the stock. Benchmark started coverage on Assurant in a research note on Tuesday, August 12th. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.