Jay Rosenblum Sells 3,900 Shares of Assurant, Inc. (NYSE:AIZ) Stock

Key Points

• Jay Rosenblum, EVP of Assurant, Inc., sold 3,900 shares at $208.53 per share, totaling approximately $813,267, reducing his position by 33.12%.
• Assurant reported a Q2 earnings per share (EPS) of $5.56, beating estimates of $4.43, and showing an 8.0% year-over-year revenue increase to $3.16 billion.
• Several analysts have rated Assurant stock positively, with an average target price of $231.57, reflecting a consensus rating of "Moderate Buy" based on recent evaluations.

Assurant, Inc. (NYSE:AIZ - Get Free Report) EVP Jay Rosenblum sold 3,900 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $208.53, for a total value of $813,267.00. Following the completion of the sale, the executive vice president owned 7,875 shares in the company, valued at approximately $1,642,173.75. This trade represents a 33.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jay Rosenblum also recently made the following trade(s):

• On Friday, May 16th, Jay Rosenblum sold 1,000 shares of Assurant stock. The stock was sold at an average price of $201.93, for a total value of $201,930.00.

Assurant Trading Down 1.1%

Shares of AIZ traded down $2.42 during mid-day trading on Monday, reaching $210.09. 51,981 shares of the company were exchanged, compared to its average volume of 488,812. The stock has a market capitalization of $10.60 billion, a PE ratio of 15.20 and a beta of 0.58. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 0.40. The business has a 50 day simple moving average of $194.56 and a two-hundred day simple moving average of $198.96. Assurant, Inc. has a 52 week low of $174.97 and a 52 week high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, topping analysts' consensus estimates of $4.43 by $1.13. The business 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 revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $4.77 earnings per share. On average, analysts predict that Assurant, Inc. will post 16.88 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.80 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 1.5%. Assurant's payout ratio is currently 23.17%.

Institutional Investors Weigh In On Assurant

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Assurant by 1.3% during the second quarter. Vanguard Group Inc. now owns 6,775,234 shares of the financial services provider's stock valued at $1,338,041,000 after acquiring an additional 88,749 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Assurant by 8.3% in the second quarter. Bank of New York Mellon Corp now owns 4,051,114 shares of the financial services provider's stock worth $800,054,000 after purchasing an additional 310,455 shares during the last quarter. Invesco Ltd. raised its stake in shares of Assurant by 28.0% in the first quarter. Invesco Ltd. now owns 1,479,310 shares of the financial services provider's stock worth $310,285,000 after purchasing an additional 323,573 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Assurant by 4.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,245,022 shares of the financial services provider's stock worth $245,879,000 after buying an additional 53,773 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Assurant by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 889,310 shares of the financial services provider's stock worth $186,533,000 after buying an additional 72,046 shares in the last quarter. Institutional investors own 92.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AIZ. Wall Street Zen raised Assurant from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Benchmark assumed coverage on Assurant in a research report on Tuesday, August 12th. They issued a "buy" rating on the stock. Morgan Stanley raised their price target on Assurant from $218.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Monday. BMO Capital Markets assumed coverage on Assurant in a research report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price target on the stock. Finally, Stephens assumed coverage on Assurant in a research report on Tuesday, August 12th. They issued an "overweight" rating on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $233.29.

About Assurant

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.