Insider Selling: Assurant, Inc. (NYSE:AIZ) EVP Sells $267,195.00 in Stock

Assurant, Inc. (NYSE:AIZ) EVP Martin Jenns sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $178.13, for a total transaction of $267,195.00. Following the completion of the sale, the executive vice president now directly owns 4,027 shares in the company, valued at $717,329.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Assurant Trading Down 1.0 %

AIZ stock opened at $184.10 on Friday. The company has a market capitalization of $9.57 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.73 and a beta of 0.54. Assurant, Inc. has a one year low of $136.15 and a one year high of $189.48. The company’s 50 day moving average price is $170.22 and its two-hundred day moving average price is $173.99. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.39 and a current ratio of 0.39.

Assurant (NYSE:AIZ) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.50. Assurant had a net margin of 6.73% and a return on equity of 20.08%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter last year, the business earned $3.89 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. As a group, analysts predict that Assurant, Inc. will post 16.04 earnings per share for the current fiscal year.

Assurant Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.56%. Assurant’s dividend payout ratio is 20.10%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AIZ shares. StockNews.com raised shares of Assurant from a “hold” rating to a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods raised their target price on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday. UBS Group raised their target price on shares of Assurant from $210.00 to $217.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America decreased their price target on shares of Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, Piper Sandler reissued an “overweight” rating and set a $205.00 price target on shares of Assurant in a research note on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $208.60.

Institutional Trading of Assurant

Several large investors have recently added to or reduced their stakes in AIZ. Innealta Capital LLC bought a new stake in Assurant in the second quarter valued at $31,000. Richardson Financial Services Inc. boosted its holdings in Assurant by 62.1% in the second quarter. Richardson Financial Services Inc. now owns 201 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 77 shares in the last quarter. Assetmark Inc. bought a new stake in Assurant in the fourth quarter valued at $44,000. Quarry LP bought a new stake in Assurant in the fourth quarter valued at $51,000. Finally, Family Firm Inc. bought a new stake in Assurant in the second quarter valued at $51,000. Institutional investors own 92.65% of the company’s stock.

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.