Keith Demmings Sells 4,275 Shares of Assurant (NYSE:AIZ) 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 stock in a transaction 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 completion of the transaction, the chief executive officer owned 98,372 shares of the company's stock, valued at approximately $21,668,400.44. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

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

Assurant Stock Down 2.5%

Shares of AIZ stock traded down $5.39 during trading hours on Friday, hitting $211.12. 417,197 shares of the company's stock traded hands, compared to its average volume of 417,987. Assurant, Inc. has a 12-month low of $174.97 and a 12-month high of $230.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.38. The stock's fifty day simple moving average is $199.75 and its two-hundred day simple moving average is $199.54. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 15.29 and a beta of 0.55.

Assurant (NYSE:AIZ - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $5.56 earnings per share for the quarter, beating the consensus estimate of $4.43 by $1.13. Assurant had a return on equity of 16.47% and a net margin of 5.83%.The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned $4.77 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. Assurant has set its FY 2025 guidance at 22.390-22.390 EPS. On average, analysts expect that Assurant, Inc. will post 16.88 EPS for the current year.

Assurant Announces Dividend

The business also recently declared 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 dividend payout ratio (DPR) is presently 23.17%.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIZ. Benchmark began coverage on Assurant in a report on Tuesday, August 12th. They set a "buy" rating for the company. Keefe, Bruyette & Woods raised their price target on Assurant from $225.00 to $235.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Zacks Research upgraded Assurant from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Morgan Stanley restated a "cautious" rating on shares of Assurant in a report on Monday, August 18th. Finally, Wall Street Zen upgraded Assurant from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment 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 MarketBeat, Assurant has a consensus rating of "Moderate Buy" and a consensus target price of $233.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in shares of Assurant by 12.0% during the 1st quarter. Principal Financial Group Inc. now owns 79,289 shares of the financial services provider's stock valued at $16,631,000 after buying an additional 8,478 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Assurant by 192.2% during the 1st quarter. Private Trust Co. NA now owns 149 shares of the financial services provider's stock valued at $31,000 after buying an additional 98 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Assurant by 14.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,163 shares of the financial services provider's stock valued at $1,271,000 after buying an additional 766 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Assurant by 49.1% in the 1st quarter. Yousif Capital Management LLC now owns 10,187 shares of the financial services provider's stock worth $2,137,000 after buying an additional 3,356 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Assurant by 35.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,034 shares of the financial services provider's stock worth $1,287,000 after buying an additional 1,584 shares during the period. 92.65% of the stock is owned by hedge funds and other institutional investors.

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.