Assurant, Inc. (NYSE:AIZ) CAO Dimitry Dirienzo Sells 550 Shares

Assurant, Inc. (NYSE:AIZ) CAO Dimitry Dirienzo sold 550 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $188.44, for a total value of $103,642.00. Following the completion of the sale, the chief accounting officer now directly owns 3,152 shares in the company, valued at approximately $593,962.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Assurant Trading Up 0.0 %

AIZ traded up $0.02 during trading on Wednesday, reaching $189.81. 369,914 shares of the company’s stock were exchanged, compared to its average volume of 352,366. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.42. Assurant, Inc. has a one year low of $136.15 and a one year high of $190.82. The firm has a fifty day moving average price of $171.22 and a two-hundred day moving average price of $174.48. The stock has a market capitalization of $9.87 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.73 and a beta of 0.54.

Assurant (NYSE:AIZ) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $4.08 earnings per share 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 company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the firm posted $3.89 earnings per share. Assurant’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts forecast that Assurant, Inc. will post 16.04 earnings per share for the current fiscal year.

Assurant Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Tuesday, September 3rd. Assurant’s dividend payout ratio (DPR) is presently 20.10%.

Analysts Set New Price Targets

A number of research firms have recently commented on AIZ. UBS Group increased their target price on shares of Assurant from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Keefe, Bruyette & Woods increased their price objective on shares of Assurant from $186.00 to $194.00 and gave the company a “market perform” rating in a research note on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 target price on shares of Assurant in a research note on Friday, June 28th. StockNews.com upgraded shares of Assurant from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Bank of America cut their price objective on Assurant from $223.00 to $222.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $208.60.

Hedge Funds Weigh In On Assurant

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Assurant by 31.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,696 shares of the financial services provider’s stock worth $623,000 after acquiring an additional 886 shares during the period. Cerity Partners LLC increased its stake in shares of Assurant by 16.2% in the 4th quarter. Cerity Partners LLC now owns 2,247 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 314 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Assurant in the 4th quarter valued at $539,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Assurant by 13.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,933 shares of the financial services provider’s stock valued at $4,032,000 after acquiring an additional 2,801 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in Assurant by 14.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,061 shares of the financial services provider’s stock worth $853,000 after acquiring an additional 627 shares in the last quarter. Institutional investors and hedge funds 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.