McElhenny Sheffield Capital Management LLC Sells 145 Shares of Assurant, Inc. $AIZ

McElhenny Sheffield Capital Management LLC cut its position in shares of Assurant, Inc. (NYSE:AIZ) by 6.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,101 shares of the financial services provider’s stock after selling 145 shares during the period. McElhenny Sheffield Capital Management LLC’s holdings in Assurant were worth $415,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AIZ. Zions Bancorporation National Association UT bought a new stake in shares of Assurant during the 1st quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in Assurant during the first quarter worth about $28,000. REAP Financial Group LLC boosted its stake in Assurant by 193.9% during the second quarter. REAP Financial Group LLC now owns 144 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 95 shares in the last quarter. Private Trust Co. NA boosted its stake in Assurant by 192.2% during the first quarter. Private Trust Co. NA now owns 149 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 98 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of Assurant by 312.8% in the 1st quarter. Assetmark Inc. now owns 161 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 122 shares in the last quarter. 92.65% of the stock is currently owned by institutional investors.

Assurant Price Performance

AIZ opened at $218.32 on Friday. 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 stock has a market capitalization of $11.02 billion, a P/E ratio of 15.81 and a beta of 0.55. The company’s 50-day simple moving average is $211.72 and its two-hundred day simple moving average is $200.77. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $230.55.

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, beating analysts’ consensus estimates of $4.43 by $1.13. The company had revenue of $3.16 billion for 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 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 earned $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, analysts predict that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Dividend Announcement

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

Insider Activity

In other Assurant news, CAO Dimitry Dirienzo sold 950 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $204.96, for a total value of $194,712.00. Following the transaction, the chief accounting officer owned 3,135 shares of the company’s stock, valued at approximately $642,549.60. This represents a 23.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jay Rosenblum sold 3,900 shares of the stock in a transaction dated 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. This represents a 33.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,125 shares of company stock valued at $5,917,925 in the last ninety days. 0.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on AIZ. BMO Capital Markets began coverage on Assurant in a report on Tuesday, August 12th. They issued an “outperform” rating and a $238.00 target price on the stock. UBS Group upped their price target on shares of Assurant from $250.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley upped their price target on shares of Assurant from $230.00 to $232.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Benchmark initiated coverage on shares of Assurant in a research note on Tuesday, August 12th. They issued a “buy” rating on the stock. Finally, Keefe, Bruyette & Woods upped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $238.83.

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.