Insider Selling: Assurant (NYSE:AIZ) CEO Sells 4,275 Shares of Stock

Key Points

• Assurant CEO Keith Demmings sold 4,275 shares at an average price of $220.27, totaling $941,654.25, reducing his ownership by 4.16% to 98,372 shares valued at approximately $21.67 million.
• Assurant's stock price has decreased by 0.6%, now trading at $214.34, while the company has a market cap of $10.82 billion and a price-to-earnings ratio of 15.52.
• The company announced a quarterly dividend of $0.80 per share, which shareholders will receive on September 29th, representing an annual yield of 1.5% with a payout ratio of 23.17%.

Assurant, Inc. (NYSE:AIZ - Get Free Report) CEO Keith Demmings sold 4,275 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $220.27, for a total value of $941,654.25. Following the sale, the chief executive officer directly owned 98,372 shares of the company's stock, valued at $21,668,400.44. This represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Keith Demmings also recently made the following trade(s):

• On Friday, August 29th, Keith Demmings sold 4,275 shares of Assurant stock. The stock was sold at an average price of $220.27, for a total value of $941,654.25.

Assurant Stock Down 0.6%

AIZ traded down $1.27 during midday trading on Tuesday, reaching $214.34. 508,746 shares of the company were exchanged, compared to its average volume of 488,202. 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 company's fifty day moving average price is $198.34 and its 200 day moving average price is $199.18. The company has a market cap of $10.82 billion, a price-to-earnings ratio of 15.52 and a beta of 0.55. Assurant, Inc. has a one year low of $174.97 and a one year high of $230.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $5.56 EPS for the quarter, topping analysts' consensus estimates of $4.43 by $1.13. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.13 billion. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The company'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 EPS. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. As a group, analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on AIZ shares. Morgan Stanley reissued a "cautious" rating on shares of Assurant in a research report on Monday, August 18th. Zacks Research raised shares of Assurant from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Stephens started coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an "overweight" rating on the stock. BMO Capital Markets started coverage on shares of Assurant in a research report on Tuesday, August 12th. They issued an "outperform" rating and a $238.00 price target on the stock. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $233.29.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AIZ. Norges Bank bought a new position in shares of Assurant in the second quarter worth approximately $131,300,000. Qube Research & Technologies Ltd increased its position in shares of Assurant by 482.8% in the second quarter. Qube Research & Technologies Ltd now owns 621,830 shares of the financial services provider's stock worth $122,805,000 after purchasing an additional 515,127 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Assurant by 12.7% in the first quarter. Bank of New York Mellon Corp now owns 3,740,659 shares of the financial services provider's stock worth $784,603,000 after purchasing an additional 420,069 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in shares of Assurant by 1,222.0% in the second quarter. Jupiter Asset Management Ltd. now owns 356,064 shares of the financial services provider's stock worth $70,319,000 after purchasing an additional 329,131 shares during the last quarter. Finally, Invesco Ltd. increased its position 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. 92.65% of the stock is currently owned by institutional investors.

Assurant Company Profile

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.

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