Insider Selling: Assurant (NYSE:AIZ) EVP Sells 7,000 Shares

Assurant, Inc. (NYSE:AIZGet Free Report) EVP Robert Lonergan sold 7,000 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $262.71, for a total value of $1,838,970.00. Following the completion of the sale, the executive vice president directly owned 27,374 shares in the company, valued at $7,191,423.54. This trade represents a 20.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Assurant Price Performance

Shares of NYSE:AIZ traded up $4.25 during midday trading on Tuesday, hitting $265.83. 380,502 shares of the stock were exchanged, compared to its average volume of 410,504. Assurant, Inc. has a twelve month low of $183.39 and a twelve month high of $266.90. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The company has a 50 day moving average price of $244.95 and a 200-day moving average price of $234.42. The stock has a market cap of $13.17 billion, a P/E ratio of 13.60 and a beta of 0.56.

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

Assurant Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 8th will be issued a dividend of $0.88 per share. The ex-dividend date is Monday, June 8th. This represents a $3.52 annualized dividend and a dividend yield of 1.3%. Assurant’s dividend payout ratio (DPR) is 18.01%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AIZ. Piper Sandler reissued an “overweight” rating on shares of Assurant in a research note on Monday. Royal Bank Of Canada set a $310.00 price objective on shares of Assurant in a report on Wednesday, June 17th. Truist Financial raised their target price on shares of Assurant from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Keefe, Bruyette & Woods boosted their target price on shares of Assurant from $258.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Finally, UBS Group upped their price target on shares of Assurant from $270.00 to $274.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Assurant has an average rating of “Buy” and an average target price of $283.57.

Get Our Latest Stock Analysis on Assurant

Institutional Investors Weigh In On Assurant

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its stake in Assurant by 15.1% in the third quarter. JPMorgan Chase & Co. now owns 124,993 shares of the financial services provider’s stock worth $27,076,000 after purchasing an additional 16,388 shares in the last quarter. GW&K Investment Management LLC raised its position in shares of Assurant by 25.6% during the 3rd quarter. GW&K Investment Management LLC now owns 274,862 shares of the financial services provider’s stock worth $59,537,000 after purchasing an additional 56,009 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in 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 valued at $44,786,000 after purchasing an additional 26,678 shares during the period. HighTower Advisors LLC increased its position in Assurant by 603.6% in the third quarter. HighTower Advisors LLC now owns 7,142 shares of the financial services provider’s stock worth $1,547,000 after buying an additional 6,127 shares during the period. Finally, Clark Capital Management Group Inc. increased its position in Assurant by 2.1% in the third quarter. Clark Capital Management Group Inc. now owns 310,802 shares of the financial services provider’s stock worth $67,320,000 after buying an additional 6,277 shares during the period. Institutional investors and hedge funds 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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Insider Buying and Selling by Quarter for Assurant (NYSE:AIZ)

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