Assurant, Inc. $AIZ Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in Assurant, Inc. (NYSE:AIZ) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,632 shares of the financial services provider’s stock after buying an additional 1,344 shares during the period. QRG Capital Management Inc.’s holdings in Assurant were worth $3,680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AIZ. Bank of New York Mellon Corp grew its holdings in shares of Assurant by 12.7% during the first quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider’s stock worth $784,603,000 after purchasing an additional 420,069 shares during the last quarter. Invesco Ltd. grew its stake in Assurant by 28.0% during the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider’s stock worth $310,285,000 after buying an additional 323,573 shares during the last quarter. Nuveen LLC purchased a new stake in Assurant in the first quarter valued at approximately $28,095,000. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Assurant by 73.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 279,268 shares of the financial services provider’s stock valued at $58,577,000 after acquiring an additional 118,096 shares during the period. Finally, Amundi boosted its holdings in shares of Assurant by 30.6% in the first quarter. Amundi now owns 367,161 shares of the financial services provider’s stock valued at $74,688,000 after acquiring an additional 85,962 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIZ has been the topic of a number of recent research reports. Wall Street Zen raised shares of Assurant from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Assurant in a research note on Saturday, September 27th. Keefe, Bruyette & Woods increased their target price on shares of Assurant from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. BMO Capital Markets initiated coverage on Assurant in a research report on Tuesday, August 12th. They issued an “outperform” rating and a $238.00 price target on the stock. Finally, Zacks Research raised Assurant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $234.83.

Assurant Trading Up 0.8%

NYSE AIZ opened at $221.81 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $11.19 billion, a P/E ratio of 16.06 and a beta of 0.55. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $230.55. The firm has a 50-day moving average price of $209.78 and a 200 day moving average price of $200.47.

Assurant (NYSE:AIZ) last released its earnings results 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. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The firm’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Equities research 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 was paid on Monday, September 29th. Shareholders of record on Tuesday, September 2nd were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a yield of 1.4%. Assurant’s dividend payout ratio (DPR) is 23.17%.

Insiders Place Their Bets

In related news, CAO Dimitry Dirienzo sold 950 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were 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 owned 3,135 shares in the company, valued at $642,549.60. This trade represents a 23.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Keith Demmings sold 13,725 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $220.52, for a total transaction of $3,026,637.00. Following the sale, the chief executive officer directly owned 84,647 shares in the company, valued at approximately $18,666,356.44. This represents a 13.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,125 shares of company stock worth $5,917,925. Corporate 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.