Teza Capital Management LLC Buys Shares of 997 Assurant, Inc. $AIZ

Teza Capital Management LLC bought a new stake in Assurant, Inc. (NYSE:AIZ) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 997 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of AIZ. Bank of New York Mellon Corp increased its stake in 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 period. Invesco Ltd. increased its stake in Assurant by 28.0% during the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider’s stock worth $310,285,000 after purchasing an additional 323,573 shares during the period. Millennium Management LLC increased its stake in Assurant by 1,499.1% during the fourth quarter. Millennium Management LLC now owns 344,128 shares of the financial services provider’s stock worth $73,375,000 after purchasing an additional 322,608 shares during the period. GAMMA Investing LLC increased its stake in Assurant by 20,818.1% during the first quarter. GAMMA Investing LLC now owns 308,123 shares of the financial services provider’s stock worth $646,290,000 after purchasing an additional 306,650 shares during the period. Finally, Nuveen LLC purchased a new stake in Assurant during the first quarter worth about $28,095,000. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AIZ. Benchmark began coverage on shares of Assurant in a research note on Tuesday, August 12th. They set a “buy” rating on the stock. Zacks Research upgraded shares of Assurant from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 19th. Morgan Stanley restated a “cautious” rating on shares of Assurant in a research note on Monday, August 18th. Wall Street Zen upgraded shares of Assurant from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, BMO Capital Markets initiated coverage on shares of Assurant in a research note on Tuesday, August 12th. They set an “outperform” rating and a $238.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $233.29.

Insider Transactions at Assurant

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 transaction of $813,267.00. Following the completion of the sale, the executive vice president 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 link. Also, CEO Keith Demmings sold 4,275 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $220.27, for a total transaction of $941,654.25. Following the sale, the chief executive officer owned 98,372 shares of the company’s stock, valued at $21,668,400.44. This represents a 4.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,400 shares of company stock worth $2,891,288. 0.51% of the stock is currently owned by insiders.

Assurant Stock Down 0.3%

AIZ stock opened at $211.02 on Wednesday. The stock has a market cap of $10.65 billion, a P/E ratio of 15.28 and a beta of 0.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a twelve month low of $174.97 and a twelve month high of $230.55. The company’s 50 day moving average is $200.30 and its two-hundred day moving average is $199.71.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share 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%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.77 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Research analysts expect that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 2nd. Assurant’s payout ratio is currently 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.