Assurant (NYSE:AIZ) CAO Sells $511,360.00 in Stock

Assurant, Inc. (NYSE:AIZ) CAO Dimitry Dirienzo sold 2,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $255.68, for a total value of $511,360.00. Following the sale, the chief accounting officer owned 2,741 shares in the company, valued at $700,818.88. The trade was a 42.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Dimitry Dirienzo also recently made the following trade(s):

• On Friday, March 20th, Dimitry Dirienzo sold 750 shares of Assurant stock. The stock was sold at an average price of $210.98, for a total value of $158,235.00.

Assurant Price Performance

Shares of AIZ stock opened at $249.21 on Friday. The stock’s fifty day moving average is $232.47 and its 200-day moving average is $231.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $12.35 billion, a PE ratio of 12.75 and a beta of 0.56. Assurant, Inc. has a 52 week low of $183.39 and a 52 week high of $260.96.

Assurant (NYSE:AIZ) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $5.95 EPS for the quarter, topping the consensus estimate of $5.29 by $0.66. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.79 earnings per share. Equities research analysts expect that Assurant, Inc. will post 21.04 EPS for the current fiscal year.

Assurant Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 8th will be issued a $0.88 dividend. The ex-dividend date is Monday, June 8th. This represents a $3.52 annualized dividend and a yield of 1.4%. Assurant’s dividend payout ratio (DPR) is currently 18.01%.

Hedge Funds Weigh In On Assurant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC bought a new position in Assurant during the second quarter worth about $27,000. Montag A & Associates Inc. bought a new position in Assurant during the fourth quarter worth about $28,000. Smartleaf Asset Management LLC boosted its holdings in Assurant by 65.6% during the third quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider’s stock worth $32,000 after buying an additional 59 shares during the last quarter. BOKF NA bought a new position in Assurant during the third quarter worth about $32,000. Finally, Western Wealth Management LLC bought a new position in Assurant during the first quarter worth about $33,000. Institutional investors own 92.65% of the company’s stock.

Wall Street Analyst Weigh In

AIZ has been the topic of several recent research reports. BMO Capital Markets decreased their price target on Assurant from $255.00 to $246.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Keefe, Bruyette & Woods raised their price target on Assurant from $258.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. UBS Group raised their price target on Assurant from $270.00 to $274.00 and gave the company a “buy” rating in a report on Monday, May 11th. Truist Financial raised their price target on Assurant from $280.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Piper Sandler raised their price target on Assurant from $268.00 to $290.00 and gave the company an “overweight” rating in a report on Tuesday. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $275.83.

Assurant Company Profile

Assurant, Inc is a global provider of risk management products and services, specializing in the housing and lifestyle markets. The company offers insurance and related products designed to help consumers protect their homes, personal belongings, and electronic devices. Its core offerings include renters insurance, manufactured housing finance, flood insurance, mobile device protection plans, and extended service contracts for appliances and electronics.

Within its Global Housing segment, Assurant partners with mortgage lenders, financial institutions and government agencies to deliver specialty insurance and risk mitigation services.