Key Points
- Assurant EVP Subhashish Sengupta sold 1,880 shares on March 20 at an average price of $210.53 for a total of $395,796.40, cutting his holding by 39.37% to 2,895 shares valued at about $609,484.
- Recent results and dividend: Assurant beat quarterly EPS estimates with $5.61 and revenue of $3.35 billion (up 7.9% YoY), and declared a $0.88 quarterly dividend ($3.52 annualized, ~1.6% yield).
- Market and analyst view: AIZ trades in a 12-month range of $174.97–$246.31 (opened at $217.23) and carries an average analyst rating of “Moderate Buy” with a $258.17 average price target.
Assurant, Inc. (NYSE:AIZ - Get Free Report) CAO Dimitry Dirienzo sold 750 shares of the firm's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $210.98, for a total transaction of $158,235.00. Following the transaction, the chief accounting officer directly owned 4,741 shares of the company's stock, valued at approximately $1,000,256.18. This trade represents a 13.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Assurant Trading Up 2.1%
Shares of Assurant stock opened at $217.23 on Tuesday. Assurant, Inc. has a 1 year low of $174.97 and a 1 year high of $246.31. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.39 and a quick ratio of 0.39. The business has a 50 day moving average price of $227.86 and a 200 day moving average price of $224.50. The company has a market capitalization of $10.80 billion, a P/E ratio of 12.80 and a beta of 0.58.
Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, February 10th. The financial services provider reported $5.61 EPS for the quarter, beating analysts' consensus estimates of $5.55 by $0.06. The firm had revenue of $3.35 billion for the quarter, compared to analysts' expectations of $3.28 billion. Assurant had a return on equity of 18.65% and a net margin of 6.81%.Assurant's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.79 EPS. Sell-side analysts anticipate that Assurant, Inc. will post 16.88 EPS for the current fiscal year.
Assurant Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Tuesday, February 17th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, February 17th. Assurant's dividend payout ratio is currently 20.74%.
Institutional Investors Weigh In On Assurant
A number of hedge funds and other institutional investors have recently made changes to their positions in AIZ. Versant Capital Management Inc increased its stake in Assurant by 72.6% in the third quarter. Versant Capital Management Inc now owns 126 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 53 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in Assurant in the 2nd quarter worth about $27,000. Montag A & Associates Inc. purchased a new stake in Assurant in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC grew its holdings in Assurant by 65.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 149 shares of the financial services provider's stock valued at $32,000 after buying an additional 59 shares during the period. Finally, BOKF NA acquired a new position in shares of Assurant during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 92.65% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Assurant in a research report on Monday, December 29th. Piper Sandler upped their target price on shares of Assurant from $252.00 to $264.00 and gave the company an "overweight" rating in a report on Friday, December 19th. Truist Financial raised their price target on shares of Assurant from $265.00 to $280.00 and gave the stock a "buy" rating in a research note on Thursday, February 12th. BMO Capital Markets lowered their price target on shares of Assurant from $255.00 to $246.00 and set an "outperform" rating for the company in a report on Thursday, February 12th. Finally, Wall Street Zen lowered shares of Assurant from a "buy" rating to a "hold" rating in a research report on Saturday, February 14th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $258.17.
View Our Latest Research Report on AIZ
About Assurant
(
Get Free Report)
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.
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