Mirae Asset Global Investments Co. Ltd. acquired a new stake in Assurant, Inc. (NYSE:AIZ – Free Report) in the 3rd quarter, Holdings Channel reports. The fund acquired 17,731 shares of the financial services provider’s stock, valued at approximately $4,672,000.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Assurant during the second quarter worth approximately $1,345,211,000. Bank of New York Mellon Corp acquired a new stake in Assurant in the second quarter worth approximately $1,269,591,000. Bank of America Corp DE bought a new position in Assurant during the 2nd quarter valued at $269,635,000. Deutsche Bank AG bought a new position in Assurant during the 2nd quarter valued at $76,718,000. Finally, Dimensional Fund Advisors LP boosted its stake in Assurant by 22.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,125,406 shares of the financial services provider’s stock valued at $245,121,000 after purchasing an additional 205,767 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.
Key Stories Impacting Assurant
Here are the key news stories impacting Assurant this week:
- Positive Sentiment: Assurant reported third-quarter earnings of $6.15 per share, above analysts’ estimates, while revenue rose 9.2% year over year to $3.53 billion. Strength in its Lifestyle and Housing businesses contributed to the results, and coverage cited a stronger 2026 earnings outlook. AIZ Q3 Earnings Beat Estimates on Lifestyle and Housing Strength
- Positive Sentiment: Keefe, Bruyette & Woods raised its price target from $325 to $345 and maintained an “outperform” rating, signaling continued analyst confidence in potential upside. Keefe, Bruyette & Woods stock recommendations
- Positive Sentiment: Assurant acquired Protection Point Service Plans, a Canadian commercial-equipment protection-program provider, expanding its capabilities and reach in that market. Assurant Acquires Protection Point
- Neutral Sentiment: AIZ recently reached a 52-week high. That reflects strong momentum, though the elevated price may lead some investors to consider taking profits. Assurant Soars to 52-Week High, Time to Cash Out?
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Wall Street Zen downgraded Assurant from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Keefe, Bruyette & Woods upped their price objective on Assurant from $325.00 to $345.00 and gave the company an “outperform” rating in a report on Thursday. UBS Group raised their target price on Assurant from $274.00 to $331.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Piper Sandler lifted their target price on Assurant from $290.00 to $329.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Zacks Research raised Assurant from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $327.14.
Read Our Latest Research Report on AIZ
Assurant Stock Down 0.7%
NYSE AIZ opened at $306.30 on Friday. Assurant, Inc. has a 12 month low of $209.86 and a 12 month high of $316.72. The company has a market capitalization of $15.11 billion, a P/E ratio of 12.79 and a beta of 0.52. The company’s 50 day simple moving average is $279.97 and its 200 day simple moving average is $255.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.66 and a quick ratio of 0.38.
Assurant (NYSE:AIZ – Get Free Report) last issued its earnings results on Tuesday, November 3rd. The financial services provider reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $4.75 by $1.40. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Assurant had a net margin of 7.80% and a return on equity of 20.44%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $5.73 earnings per share. Equities research analysts expect that Assurant, Inc. will post 22.40 earnings per share for the current fiscal year.
Assurant Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 28th. Stockholders of record on Monday, August 31st were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Assurant’s dividend payout ratio (DPR) is currently 16.81%.
About Assurant
Assurant, Inc (NYSE:AIZ) is a global business services company that provides insurance products and related services. Its offerings are designed to help consumers protect mobile devices, household belongings, vehicles, homes and other significant purchases, while supporting businesses in managing risk and customer relationships.
Assurant operates through three primary business segments: Global Lifestyle, Global Housing and Global Preneed. Global Lifestyle provides mobile device protection, extended service contracts and related services for consumer electronics, appliances and vehicles.
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