Key Points
- Assurant EVP Nair Biju sold 3,931 shares at an average price of $302.46, generating approximately $1.19 million. The sale reduced Biju’s direct ownership by 13.95% to 24,247 shares.
- Assurant reported quarterly adjusted earnings of $6.41 per share, exceeding estimates of $5.17, while revenue rose 9.4% year over year to $3.45 billion.
- Analyst sentiment remains positive, with nine Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $305.57. Assurant also pays a quarterly dividend of $0.88, yielding about 1.2% annually.
Assurant, Inc. (NYSE:AIZ - Get Free Report) EVP Nair Biju sold 3,931 shares of the firm's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $302.46, for a total transaction of $1,188,970.26. Following the transaction, the executive vice president directly owned 24,247 shares in the company, valued at approximately $7,333,747.62. This represents a 13.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Assurant Price Performance
Shares of Assurant stock opened at $289.33 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.67 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 13.82 and a beta of 0.55. Assurant, Inc. has a twelve month low of $201.96 and a twelve month high of $303.94. The company has a 50-day simple moving average of $270.67 and a two-hundred day simple moving average of $244.51.
Assurant (NYSE:AIZ - Get Free Report) last announced its earnings results on Tuesday, August 4th. The financial services provider reported $6.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.17 by $1.24. Assurant had a net margin of 7.90% and a return on equity of 20.40%. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the business posted $5.56 EPS. The business's revenue was up 9.4% compared to the same quarter last year. Analysts forecast that Assurant, Inc. will post 21.61 EPS for the current year.
Assurant Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 8th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, June 8th. Assurant's payout ratio is 16.81%.
Analyst Ratings Changes
AIZ has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on Assurant from $310.00 to $325.00 and gave the stock an "outperform" rating in a research note on Friday. UBS Group upped their target price on Assurant from $270.00 to $274.00 and gave the company a "buy" rating in a research report on Monday, May 11th. Piper Sandler upped their target price on Assurant from $290.00 to $329.00 and gave the company an "overweight" rating in a research report on Thursday. Wall Street Zen lowered Assurant from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Finally, Truist Financial raised their price target on Assurant from $310.00 to $355.00 and gave the stock a "buy" rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $305.57.
Read Our Latest Report on AIZ
Institutional Trading of Assurant
A number of institutional investors and hedge funds have recently made changes to their positions in AIZ. Robeco Institutional Asset Management B.V. raised its holdings in shares of Assurant by 16.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 185,949 shares of the financial services provider's stock worth $44,786,000 after buying an additional 26,678 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in Assurant by 1.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 349,361 shares of the financial services provider's stock valued at $84,144,000 after buying an additional 5,462 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Assurant by 198.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 11,997 shares of the financial services provider's stock valued at $2,889,000 after buying an additional 7,983 shares in the last quarter. Strs Ohio grew its position in Assurant by 972.1% in the fourth quarter. Strs Ohio now owns 12,994 shares of the financial services provider's stock valued at $3,130,000 after acquiring an additional 11,782 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its position in Assurant by 14.0% in the fourth quarter. Deprince Race & Zollo Inc. now owns 120,815 shares of the financial services provider's stock valued at $29,098,000 after acquiring an additional 14,864 shares during the last quarter. Institutional investors own 92.65% of the company's stock.
Assurant Company Profile
(
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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