Lecap Asset Management Ltd. Makes New Investment in Assurant, Inc. $AIZ

Lecap Asset Management Ltd. purchased a new position in Assurant, Inc. (NYSE:AIZ) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,404 shares of the financial services provider’s stock, valued at approximately $672,000.

Other hedge funds also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in shares of Assurant in the 1st quarter valued at approximately $26,000. Alpine Bank Wealth Management bought a new position in Assurant in the first quarter valued at approximately $28,000. Private Trust Co. NA lifted its stake in 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 buying an additional 98 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Assurant by 312.8% in the first quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock valued at $34,000 after buying an additional 122 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Assurant by 57.8% during the first quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 67 shares in the last quarter. Institutional investors and hedge funds own 92.65% of the company’s stock.

Insider Transactions at Assurant

In other news, CAO Dimitry Dirienzo sold 950 shares of the company’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 sale, the chief accounting officer directly owned 3,135 shares of the company’s stock, valued at approximately $642,549.60. This represents a 23.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Keith Demmings sold 4,275 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $220.27, for a total transaction of $941,654.25. Following the completion of the sale, the chief executive officer owned 98,372 shares of the company’s stock, valued at $21,668,400.44. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,400 shares of company stock worth $2,891,288 in the last ninety days. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on AIZ shares. Benchmark assumed coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods lifted their price target on Assurant from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, August 12th. BMO Capital Markets started coverage on Assurant in a research report on Tuesday, August 12th. They set an “outperform” rating and a $238.00 price objective for the company. Wall Street Zen raised Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Morgan Stanley restated a “cautious” rating on shares of Assurant in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Assurant presently has an average rating of “Moderate Buy” and a consensus price target of $234.83.

Assurant Stock Up 0.5%

AIZ stock opened at $218.50 on Friday. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 15.82 and a beta of 0.55. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $230.55. The business has a 50 day moving average price of $208.36 and a two-hundred day moving average price of $200.48. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38.

Assurant (NYSE:AIZ) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were 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 of this dividend was Tuesday, September 2nd. Assurant’s dividend payout ratio (DPR) is 23.17%.

Assurant Company 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.