Beacon Investment Advisory Services Inc. Lowers Stock Holdings in Assurant, Inc. $AIZ

Beacon Investment Advisory Services Inc. lowered its holdings in Assurant, Inc. (NYSE:AIZ) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,804 shares of the financial services provider’s stock after selling 106 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Assurant were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. TD Private Client Wealth LLC grew its position in shares of Assurant by 29.0% in the second quarter. TD Private Client Wealth LLC now owns 543 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 122 shares during the period. Forte Capital LLC ADV grew its holdings in shares of Assurant by 11.3% during the 2nd quarter. Forte Capital LLC ADV now owns 1,803 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 183 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in shares of Assurant during the 2nd quarter worth about $400,000. GAMMA Investing LLC grew its holdings in shares of Assurant by 3.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,527 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 58 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Assurant by 690.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 34,293 shares of the financial services provider’s stock worth $6,773,000 after purchasing an additional 29,956 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Assurant Stock Performance

Shares of AIZ stock opened at $215.78 on Friday. 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’s 50-day simple moving average is $205.40 and its 200-day simple moving average is $200.16. Assurant, Inc. has a one year low of $174.97 and a one year high of $230.55. The stock has a market capitalization of $10.89 billion, a price-to-earnings ratio of 15.63 and a beta of 0.55.

Assurant (NYSE:AIZ) last released 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 company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter last year, the business posted $4.77 EPS. Assurant’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. Equities analysts anticipate that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 2nd. Assurant’s dividend payout ratio (DPR) is presently 23.17%.

Analyst Ratings Changes

A number of analysts recently weighed in on AIZ shares. Benchmark initiated coverage on shares of Assurant in a research report on Tuesday, August 12th. They set a “buy” rating for the company. Keefe, Bruyette & Woods upped their target price on Assurant from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. Stephens initiated coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued an “overweight” rating for the company. Zacks Research raised shares of Assurant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Finally, Morgan Stanley reissued a “cautious” rating on shares of Assurant in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $234.83.

Insider Transactions at Assurant

In other Assurant news, EVP Jay Rosenblum sold 3,900 shares of the firm’s stock in a transaction dated Tuesday, August 12th. The shares were 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dimitry Dirienzo sold 950 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $204.96, for a total value of $194,712.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,400 shares of company stock worth $2,891,288. 0.51% of the stock is currently owned by insiders.

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.