Shell Asset Management Co. Acquires 7,028 Shares of Assurant, Inc. $AIZ

Shell Asset Management Co. boosted its holdings in Assurant, Inc. (NYSE:AIZ) by 70.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,011 shares of the financial services provider’s stock after purchasing an additional 7,028 shares during the period. Shell Asset Management Co.’s holdings in Assurant were worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AIZ. Bank of New York Mellon Corp grew its position in Assurant by 12.7% in the first quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider’s stock valued at $784,603,000 after purchasing an additional 420,069 shares in the last quarter. Invesco Ltd. grew its position in shares of Assurant by 28.0% in the 1st quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider’s stock valued at $310,285,000 after acquiring an additional 323,573 shares during the period. Nuveen LLC bought a new position in shares of Assurant in the 1st quarter valued at about $28,095,000. Fuller & Thaler Asset Management Inc. grew its position in shares of Assurant by 73.3% in the 1st 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 grew its position in shares of Assurant by 30.6% in the 1st 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. Institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AIZ shares. Stephens started coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an “overweight” rating for the company. Benchmark started coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued a “buy” rating for the company. Wall Street Zen raised shares of Assurant from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Zacks Research raised shares of Assurant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Assurant from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $235.17.

Insider Activity

In other news, EVP Jay Rosenblum sold 3,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total value of $813,267.00. Following the completion of the transaction, the executive vice president directly owned 7,875 shares in the company, valued at approximately $1,642,173.75. The trade was a 33.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Dimitry Dirienzo sold 950 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $204.96, for a total transaction of $194,712.00. Following the completion of the transaction, the chief accounting officer owned 3,135 shares of the company’s stock, valued at $642,549.60. The trade was a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,125 shares of company stock worth $5,917,925. 0.51% of the stock is currently owned by corporate insiders.

Assurant Stock Performance

Shares of AIZ stock opened at $216.40 on Wednesday. The company has a market capitalization of $10.92 billion, a price-to-earnings ratio of 15.67 and a beta of 0.55. 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 has a 50-day simple moving average of $210.40 and a 200 day simple moving average of $200.58. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $230.55.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, topping the consensus estimate of $4.43 by $1.13. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. Assurant had a net margin of 5.83% and a return on equity of 16.47%. Assurant’s revenue was up 8.0% compared to the same quarter last year. 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. On average, sell-side analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd were given a $0.80 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Assurant’s payout ratio is presently 23.17%.

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.