Tectonic Advisors LLC Raises Stock Position in Assurant, Inc. $AIZ

Tectonic Advisors LLC grew its holdings in shares of Assurant, Inc. (NYSE:AIZ) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,030 shares of the financial services provider’s stock after purchasing an additional 97 shares during the period. Tectonic Advisors LLC’s holdings in Assurant were worth $598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AIZ. Merit Financial Group LLC increased its stake in Assurant by 18.0% during the first quarter. Merit Financial Group LLC now owns 1,406 shares of the financial services provider’s stock worth $295,000 after purchasing an additional 214 shares during the period. Pallas Capital Advisors LLC grew its position in shares of Assurant by 8.6% during the first quarter. Pallas Capital Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $283,000 after buying an additional 107 shares in the last quarter. Yousif Capital Management LLC grew its position in shares of Assurant by 49.1% during the first quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider’s stock worth $2,137,000 after buying an additional 3,356 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Assurant by 672.7% during the first quarter. SG Americas Securities LLC now owns 11,374 shares of the financial services provider’s stock worth $2,386,000 after buying an additional 9,902 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in shares of Assurant by 13.1% during the first quarter. Handelsbanken Fonder AB now owns 14,700 shares of the financial services provider’s stock worth $3,083,000 after buying an additional 1,700 shares in the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Zacks Research raised Assurant from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 19th. Keefe, Bruyette & Woods boosted their price objective on Assurant from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. BMO Capital Markets assumed 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. UBS Group boosted their price objective on Assurant from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Assurant in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $238.83.

Insider Activity

In other news, CEO Keith Demmings sold 13,725 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $220.52, for a total value of $3,026,637.00. Following the completion of the sale, the chief executive officer directly owned 84,647 shares of the company’s stock, valued at approximately $18,666,356.44. This represents a 13.95% 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 this hyperlink. Also, CAO Dimitry Dirienzo sold 950 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer directly 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. Over the last ninety days, insiders sold 27,125 shares of company stock valued at $5,917,925. 0.51% of the stock is currently owned by company insiders.

Assurant Stock Performance

Shares of AIZ opened at $218.32 on Friday. The stock has a 50 day moving average price of $211.72 and a 200 day moving average price of $200.77. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 15.81 and a beta of 0.55. Assurant, Inc. has a 52-week low of $174.97 and a 52-week high of $230.55.

Assurant (NYSE:AIZ) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $1.13. The firm 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 quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $4.77 earnings per share. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. Research analysts predict that Assurant, Inc. will post 16.88 EPS for the current fiscal year.

Assurant Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 2nd were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. Assurant’s dividend payout ratio 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.