Insider Selling: Assurant, Inc. (NYSE:AIZ) EVP Sells 1,500 Shares of Stock

Assurant, Inc. (NYSE:AIZ) EVP Martin Jenns sold 1,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $178.13, for a total value of $267,195.00. Following the completion of the transaction, the executive vice president now directly owns 4,027 shares in the company, valued at approximately $717,329.51. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Assurant Price Performance

AIZ stock opened at $184.10 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market capitalization of $9.57 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.73 and a beta of 0.54. The business’s 50-day moving average is $170.22 and its two-hundred day moving average is $173.99. Assurant, Inc. has a 1 year low of $136.15 and a 1 year high of $189.48.

Assurant (NYSE:AIZ) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.58 by $0.50. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.89 billion. Assurant had a return on equity of 20.08% and a net margin of 6.73%. Assurant’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.89 EPS. Analysts anticipate that Assurant, Inc. will post 16.04 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.56%. Assurant’s payout ratio is currently 20.10%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Scientech Research LLC purchased a new position in shares of Assurant in the 2nd quarter valued at about $360,000. The Manufacturers Life Insurance Company increased its holdings in shares of Assurant by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,568 shares of the financial services provider’s stock valued at $6,744,000 after acquiring an additional 210 shares during the last quarter. MBB Public Markets I LLC purchased a new position in shares of Assurant in the 2nd quarter valued at about $648,000. AQR Capital Management LLC increased its holdings in shares of Assurant by 32.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,041,678 shares of the financial services provider’s stock valued at $173,179,000 after acquiring an additional 255,471 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of Assurant by 1,297.5% in the 2nd quarter. Squarepoint Ops LLC now owns 19,691 shares of the financial services provider’s stock valued at $3,274,000 after acquiring an additional 18,282 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.