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

Key Points

• Assurant CAO Dimitry Dirienzo sold 2,000 shares on May 26 at an average price of $255.68, totaling $511,360. After the sale, he still held 2,741 shares, and the trade reduced his ownership by 42.19%.
• The company recently beat quarterly expectations, reporting EPS of $5.95 versus the $5.29 consensus and revenue of $3.42 billion, up 11.3% year over year. Assurant also posted a strong return on equity of 20.32%.
• Assurant declared a quarterly dividend of $0.88 per share, payable June 29 to shareholders of record on June 8, for an annualized dividend of $3.52 and a yield of 1.4%. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average target price of $275.83.

Assurant, Inc. (NYSE:AIZ - Get Free Report) CAO Dimitry Dirienzo sold 2,000 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were 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 approximately $700,818.88. The trade was a 42.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $210.98, for a total value of $158,235.00.

Assurant Stock Performance

Shares of NYSE:AIZ traded down $4.22 during midday trading on Wednesday, reaching $251.79. 252,620 shares of the company traded hands, compared to its average volume of 401,223. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.38. Assurant, Inc. has a 12 month low of $183.39 and a 12 month high of $260.96. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 12.88 and a beta of 0.56. The firm's fifty day moving average price is $230.52 and its two-hundred day moving average price is $230.48.

Assurant (NYSE:AIZ - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $5.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.29 by $0.66. Assurant had a return on equity of 20.32% and a net margin of 7.60%.The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the company posted $5.79 EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Assurant, Inc. will post 21.04 earnings per share for the current year.

Assurant Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 8th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, June 8th. Assurant's payout ratio is presently 18.01%.

Hedge Funds Weigh In On Assurant

A number of hedge funds and other institutional investors have recently modified their holdings of AIZ. Jones Financial Companies Lllp boosted its holdings in shares of Assurant by 606.7% in the 1st quarter. Jones Financial Companies Lllp now owns 1,060 shares of the financial services provider's stock worth $222,000 after purchasing an additional 910 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Assurant by 19.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 290,759 shares of the financial services provider's stock worth $60,987,000 after purchasing an additional 47,548 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Assurant in the 1st quarter worth about $203,000. Focus Partners Wealth boosted its holdings in shares of Assurant by 66.6% in the 1st quarter. Focus Partners Wealth now owns 2,648 shares of the financial services provider's stock worth $556,000 after purchasing an additional 1,059 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Assurant by 57.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 183 shares of the financial services provider's stock worth $38,000 after purchasing an additional 67 shares in the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AIZ has been the topic of a number of research analyst reports. BMO Capital Markets decreased their target price on Assurant from $255.00 to $246.00 and set an "outperform" rating on the stock in a research note on Thursday, February 12th. Wall Street Zen lowered Assurant from a "buy" rating to a "hold" rating in a research note on Saturday, February 14th. Truist Financial upped their target price on Assurant from $280.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. UBS Group upped their target price on Assurant from $270.00 to $274.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. Finally, Weiss Ratings lowered Assurant from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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