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

QRG Capital Management Inc. grew its position in Assurant, Inc. (NYSE:AIZ) by 7.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 18,632 shares of the financial services provider’s stock after purchasing 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 reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Zions Bancorporation National Association UT acquired a new position in Assurant during the first quarter worth about $26,000. Alpine Bank Wealth Management acquired a new position in shares of Assurant during the 1st quarter worth approximately $28,000. Private Trust Co. NA raised its position in shares of Assurant by 192.2% during the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Assetmark Inc. lifted its stake in Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock valued at $34,000 after buying an additional 122 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Assurant by 57.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider’s stock valued at $38,000 after buying an additional 67 shares during the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AIZ shares. Benchmark assumed coverage on Assurant in a report on Tuesday, August 12th. They issued a “buy” rating for the company. Zacks Research upgraded Assurant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Wall Street Zen raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods raised their price target 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Assurant in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $234.83.

Assurant Stock Up 0.8%

AIZ opened at $221.81 on Tuesday. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of 16.06 and a beta of 0.55. Assurant, Inc. has a 12 month low of $174.97 and a 12 month high of $230.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average of $209.78 and a two-hundred day moving average 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. Assurant had a net margin of 5.83% and a return on equity of 16.47%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the company earned $4.77 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. On average, research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 1.4%. Assurant’s payout ratio is currently 23.17%.

Insider Transactions at Assurant

In other news, EVP Jay Rosenblum sold 3,900 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $208.53, for a total transaction of $813,267.00. Following the completion of the sale, the executive vice president directly owned 7,875 shares in the company, valued at $1,642,173.75. This represents a 33.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Dimitry Dirienzo sold 950 shares of Assurant 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 completion of the transaction, the chief accounting officer owned 3,135 shares in the company, valued at $642,549.60. The trade was a 23.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,125 shares of company stock worth $5,917,925 in the last ninety days. 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.